CPI Card Group, a US-based credit, debit, and prepaid solutions provider, has rolled out its latest payment card made with recovered ocean-bound plastic.
Known as Second Wave, the cards are complaint with EMV standard and features dual interface. It has been developed to avoid first-use plastic and divert plastic waste going to the ocean.
Simultaneously, CPI has signed an agreement with an unknown US-based card issuer to provide Second Wave cards.
CPI Card Group president and CEO Scott Scheirman said: “The health of our environment is a shared responsibility of businesses and consumers. Now more than ever, the issue of plastic waste in the Earth’s oceans demands awareness and action from people and businesses alike.
“With Second Wave, we are drawing attention to the upcycling potential of plastic waste that is either in the ocean or imminently ocean-bound.”
Scheirman further said that every one million Second Wave issued will help avoid more than one tonne of plastic entering the oceans, waterways, and shorelines.
“Across CPI, we are proud to pioneer a way to manufacture payment cards using recovered ocean-bound plastic, while enabling us to meet the needs of financial institutions and other segments of the card industry including transit, hospitality, entertainment, and their respective cardholders,” Scheirman concluded.
According to a recent survey commissioned by CPI, almost 96% of the respondents said that they were concerned about plastic waste going in the oceans.
Nearly 83% of people said that the concept of a card produced using recovered ocean plastic is tempting while 58% showed willingness to switch to another financial firm if they provide such cards with the same features.