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Unifimoney to issue recycled platic payment cards

Source: CPI Card Group

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, today announced that Unifimoney, the premium digital banking service, will offer Second Wave cards for its new Unifi Premier credit card.

Through Second Wave®, Unifimoney’s clientele of young professionals will now have access to an EMV® compliant and dual interface capable payment card that features a core made with recovered ocean-bound plastic.

Second Wave® payment cards enable companies to engage a growing market of environmentally-conscious consumers while helping reduce first-use plastic and divert plastic waste from entering the ocean. CPI estimates that for every one million Second Wave® cards produced, over one ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines. In a CPI survey among debit and credit users, conducted by an independent research firm, 94 percent of consumers surveyed said they are concerned about the amount of plastic waste in the oceans, with 87 percent of respondents finding the idea of an ocean-plastic card appealing. Additionally, 53 percent of survey respondents were willing to switch to another financial institution if it offered such cards with the same features and benefits.

“After working with CPI to introduce Unifimoney debit cards made with more eco-focused materials, we wanted to maintain our momentum and continue leading the industry toward a more environmentally-friendly future,” said Ben Soppitt, CEO of Unifimoney. “We’re thrilled to now introduce recovered ocean-bound plastic credit cards for our customers as we build out our portfolio of innovative solutions and help usher in a new era of sustainable and tech-enabled consumer finance.”

CPI and Unifimoney first announced a collaboration in June 2020, when Second Wave® payment cards became available for customers in Unifimoney’s debit card program. In addition to Unifimoney’s commitment to offering its customers cards made with more eco-focused materials, each time a Unifimoney debit card is used, a contribution is made to the Ocean Foundation. The Second Wave® card featuring a core made with recovered ocean-bound plastic reflects CPI’s continued commitment to environmentally-conscious initiatives and is part of Earth Elements™, the Company’s innovative suite of more eco-focused payment cards.

“As a company seeking to make the world more sustainable, Unifimoney is a natural collaborator that understands the significance of Second Wave® cards and its value to consumers and our environment,” said Guy DiMaggio, SVP and General Manager, SVP & GM of Secure Card and Sustainability Solutions, CPI Card Group. “We look forward to working with the financial services sector to provide payment products that support the sustainability commitments of the institution and their customers.”

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