In celebration of World Oceans Day, 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 a collaboration with Unifimoney Inc. to produce Visa contactless credit and debit cards featuring a core made with recovered ocean-bound plastic. Named Second Wave™, the high-quality card from CPI is EMV® compliant and dual interface capable.
According to a CPI Card Group Consumer Insights Study, 94 percent of consumers say they are concerned about the amount of plastic waste in the oceans. Additionally, 87 percent of respondents find the idea of an ocean-plastic card appealing, with 53 percent willing to switch to another financial institution if it offered such cards with the same features and benefits.
“We estimate that for every 1 million Second Wave payment cards produced, over 1 ton of plastic will be diverted from entering the world’s oceans, waterways, and shorelines,” said Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group.
Unifimoney has also partnered with The Ocean Foundation. Each time Second Wave™ cards are used by its customers, Unifimoney will contribute to The Ocean Foundation. Mark Spalding, President, The Ocean Foundation said, “Unifimoney’s Recovered Ocean-Bound Plastic Cards and our partnership represent a highly innovative model for helping people engage and fund issues they care about like protecting our ocean and coasts.”
Unifimoney will initially launch debit cards in Summer 2020, which are issued by UMB Bank. Doug Pagliaro, Senior Vice President, FDIC Sweep at UMB Bank, said “Being a strong community partner is one of our core values at UMB, so we’re proud to be the issuer of these environmentally friendly cards.”
“At Visa, we are working to make commerce greener and more sustainable,” said Douglas Sabo, VP and Global Head of Corporate Responsibility & Sustainability at Visa Inc. “We applaud this innovative approach of Unifimoney. We are proud to be part of this group of partners who are committed to supporting sustainable practices and protecting our oceans.”
Ben Soppitt, CEO of Unifimoney, said, “This was a great opportunity to support and lead the industry towards greater sustainability and involve our users in protecting and restoring the ocean environment. We want to bring new innovations to market that help our customers and make a positive impact in the world.”
To learn more about Second Wave™, click here.
About Unifimoney Inc.
High-performance banking. The first full-service neobank serving young professionals. A single mobile account that seamlessly integrates high-interest checking, credit/debit card and investing. Users automatically and by default model best practice in personal financial management, maximizing both their passive income today and their long-term financial future effortlessly. Unifimoney will be live in Summer 2020. www.unifimoney.com
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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.
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.