New CPI Card Group®, Aite Research White Paper Explores the Role Issuers Play in Sustainability
July 21 2020 - 9:00AM
Business Wire
“Transitioning to a More Environmentally
Friendly Card: Issuers Will Lead the Change” Presents Issuer
Perspectives on Embracing Environmentally-Focused Card
Materials
CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) (“CPI” or the
“Company”), a payment technology company and leading provider of
credit, debit and prepaid solutions, and Aite Group, a global
research and advisory firm, today released a new white paper
entitled “Transitioning to a More Environmentally Friendly Card:
Issuers Will Lead the Change.” The white paper discusses issuer
trends towards environmentally-focused card materials, and offers
comparisons of the most widely-used alternatives to virgin PVC.
The issue of plastic waste in the Earth’s environment continues
to demand awareness and action from people and businesses alike.
Researchers found that in 2015, over 8.3 billion tons of plastic
has been produced– with much of it having ended up in a landfill or
the natural environment. In the new white paper, issuers
interviewed by Aite acknowledge the growing environmental awareness
of cardholders, with 80 percent of respondents believing that
consumers are more environmentally conscious today than five years
ago. Still, there is a great opportunity for increased
collaboration around sustainability in financial services. The Aite
interviews found there is opportunity for executives to work with
their sustainability departments to create a symbiotic relationship
– only a few have begun actively communicating with their
executives.
“As issuers pursue their corporate sustainability goals,
improving collaboration between executive leadership and
sustainability groups will be essential for avoiding missed
opportunities and furthering environmental support,” said Guy
DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card
Group. “By producing this white paper with Aite, we hope to help
financial institutions strengthen their efforts and consider how
more environmentally-focused card materials can support their
sustainability strategies.”
“Transitioning to a More Environmentally Friendly Card: Issuers
Will Lead the Change” finds that multiple issuers are considering
card products with reduced environmental impact, which may
contribute to increased overall demand from cardholders for such
offerings. Of the available environmentally-focused card materials,
issuers especially favor recovered ocean plastic, according to the
white paper.
Second Wave™, CPI’s EMV® and dual interface capable card that
features a core made with recovered ocean-bound plastic, saw 10
million cards produced and delivered through Q1 2020. Second Wave™
is part of the Company’s Earth Elements™ line of payment cards,
which aim to reduce first-use plastic and divert plastic waste from
entering the environment. CPI hopes to offer a pathway for all card
industry segments to address corporate sustainability commitments
and align with a growing market of environmentally-conscious
consumers.
To download “Transitioning to a More Environmentally Friendly
Card: Issuers Will Lead the Change,” click here.
To learn more about Second Wave™, click here.
About CPI Card Group®
CPI Card Group® is a payment technology company and leading
provider of credit, debit and prepaid solutions delivered
physically, digitally and on-demand. CPI helps our customers foster
connections and build their brands through innovative and reliable
solutions, including financial payment cards, personalization, and
Software-as-a-Service (SaaS) instant issuance. CPI has more than 20
years of experience in the payments market and is a trusted partner
to financial institutions and payments services providers. Serving
customers from locations throughout the United States, CPI has a
large network of high security facilities, each of which is
registered as PCI compliant by one or more of the payment brands:
Visa, Mastercard®, American Express® and Discover®. Learn
more at www.cpicardgroup.com.
About Aite Group
Aite Group is a global research and advisory firm delivering
comprehensive, actionable advice on business, technology, and
regulatory issues and their impact on the financial services
industry. With expertise in banking, payments, insurance, wealth
management, and the capital markets, we guide financial
institutions, technology providers, and consulting firms worldwide.
We partner with our clients, revealing their blind spots and
delivering insights to make their businesses smarter and stronger.
Visit us on the web and connect with us on Twitter and
LinkedIn.
EMV® is a registered trademark in the U.S. and other countries
and an unregistered trademark elsewhere. The EMV trademark is owned
by EMVCo, LLC.
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version on businesswire.com: https://www.businesswire.com/news/home/20200721005211/en/
ICR Inc. for CPI Card Group Sourav Das 203-682-8283
media@cpicardgroup.com
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