Swiss investment bank UBS has unveiled an environment-friendly credit card, which is made of corn instead of plastic.

The card has been developed in collaboration with UBS’ charity arm Optimus Foundation, to which UBS donates 0.75% of its credit card spending annually.

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Dubbed as the Optimus Foundation Credit Card Eco, the new sustainable credit card is composed of the plastic substitute PLA.

PLA is obtained from animal feed corn. The card is said to be over 80% biodegradable.

The investment bank is also launching a virtual credit card that can be used immediately.

UBS clients with physical credit cards can register for a digital version of the same.

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They can use the card with UBS TWINT, Mobile Pay, Apple Pay, Samsung Pay or Google Pay, or use it at e-commerce sites.

The UBS virtual cards are anticipated to launch at the beginning of 2021.

UBS Switzerland COO of personal and corporate banking Karin Oertli said: “Our cards offer our clients leading technology at attractive prices, combined with the highest security standards and our comprehensive customer service.

“Thanks to our broad and innovative range of cards, every client can choose their own personalised card set.

“The transition to a more sustainable society is one of the greatest challenges of our time.

“UBS wants to be part of the solution and lead the way with innovative ideas. Our new cards, which are made without plastic, are contributing to this.

“What pleases me the most: our customers are helping to ensure the well-being of future generations every time they use the new Optimus Foundation Credit Card.”

Since last month, UBS has also made customisable debit cards available for online shopping.

Earlier this year, UBS launched the UBS Global Cards for travellers and online shoppers.