12 December 2017
visit www.solutions.lexisnexis.com

Bank of Aland deploys bio-friendly payment cards to calculate customer carbon footprint

16 June 2016  |  6771 views  |  1 World in hand

Scandinavia's Bank of Aland is to provide customers with a carbon footprint calculation for every payment transaction along with an invitation to offset these CO2 emissions.

The bank is working with Gemalto to issue new bio-degradable EMV cards to support the initiative, which is part of its commitment to an environmentally-friendly, Unesco-supported, education programme dubbed The Baltic Sea Project.

Gemalto's bio-sourced Optelio cards are manufactured from corn-based poly lactic acid material, a plastic substitute which is bio-degradable and non-toxic when incinerated. The bank has commissioned local design agency RBK Communiations to produce artwork for the front of the card reflecting the values of the Baltic Sea Project. Card account details and corporate logos have been moved to the back of the card.

The cards will be issued to all new customers and existing cardholders when their current cards expire. Customers will get monthly reports of their carbon footprint for each transaction, using data derived from an inhouse-derived 'Åland-index' to support the calculation, alongside an offer to offset these CO2 emissions.

“Gemalto was the world’s first supplier of a bio-sourced payment card and has a proven track record for the successful deployment of this ground-breaking product,” says Peter Wiklöf, CEO at Bank of Åland. “They are clearly committed to the values of The Baltic Sea Project, and our new partnership opens the door to further joint green initiatives.”

Comments: (1)

Hitesh Thakkar
Hitesh Thakkar - FIS Payments Software and Services India - India | 16 June, 2016, 11:25

When ATMs had mostly Motorised card readers similar thing was proposed to several card issuers to reward customers for selecting to capture expired cards instead of throwing it in dust bin.

This is another initiative for going green - Appriciate if bank goes for Solar based power for its data center just like Google.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

RBS selects 'eco-innovation' finalists; aims to open carbon neutral branch

RBS selects 'eco-innovation' finalists; aims to open carbon neutral branch

09 November 2015  |  5460 views  |  0 comments | 4 tweets | 4 linkedin
Nationwide taps Carbon Trust for staff energy saving push

Nationwide taps Carbon Trust for staff energy saving push

30 August 2012  |  3444 views  |  0 comments
Deutsche Bank NY headquarters go solar

Deutsche Bank NY headquarters go solar

23 January 2012  |  5417 views  |  0 comments
Deutsche Bank ships carbon counter widget

Deutsche Bank ships carbon counter widget

08 December 2009  |  3260 views  |  0 comments
Deutsche Bank unveils giant NY carbon clock

Deutsche Bank unveils giant NY carbon clock

19 June 2009  |  9216 views  |  1 comments
Visa launches carbon-offset credit card in Europe

Visa launches carbon-offset credit card in Europe

26 September 2008  |  9964 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.aciworldwide.comvisit www.response.ncr.comvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Revolut lets customers buy Bitcoin, Litecoin and EthereumRevolut lets customers buy Bitcoin, Liteco...
18629 views comments | 26 tweets | 22 linkedin
Saxo Bank's 'Outrageous Prediction': Bitcoin to peak at $60k next year before spectacular crashSaxo Bank's 'Outrageous Prediction': Bitco...
11553 views comments | 7 tweets | 7 linkedin
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
8059 views comments | 15 tweets | 21 linkedin
Santander UK poaches Barclays innovation chief Michael HarteSantander UK poaches Barclays innovation c...
6840 views comments | 8 tweets | 17 linkedin
Alior Bank to use Open API platform and accelerator to create fintech marketplaceAlior Bank to use Open API platform and ac...
6195 views comments | 19 tweets | 10 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job