Payment Methods

CPI Card Group Launches Second Wave Cards For New Markets

second wave recycled plastic card

CPI Card Group announced that it has launched Second Wave cards for markets including transit, hospitality, entertainment and more.

First launched in September, Second Wave payment cards feature a core made with recovered ocean-bound plastic to reduce first-use plastic while diverting plastic waste from entering the ocean. In fact, CPI, a payment technology company and provider of credit, debit and prepaid solutions, estimates that for every one million Second Wave cards produced, over a ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines. And the company’s recent white paper, Payment Industry Introduces Recovered Ocean-Bound Plastic Card, included a 2018 survey of debit and credit card users, finding that 96 percent are “concerned” about plastic waste in the oceans, with 63 percent being “very concerned.” In addition, 83 percent of respondents in the survey found the idea of a card made with recovered ocean plastic appealing, and 58 percent would switch to another financial institution if such a card were offered with the same features and benefits.

CPI revealed that the expansion of Second Wave into new use-cases and markets will allow more companies to incorporate environmentally-friendly solutions into their products. Second Wave now includes cards for access applications such as travel, ticketing, lodging, entertainment and more, using an embedded chip that enables radio-frequency identification (RFID) contactless functionality.

“Cards are a staple in a multitude of sectors, from transportation and travel to hospitality and entertainment. Through Second Wave, we’re providing businesses across these industries with a more eco-friendly alternative to cards made with first-use plastic,” Jack Jania, vice president of product management and innovation, CPI Card Group, said in a press release. “We’re proud to be a leader in developing card options that help our clients provide unique choices and support their customers’ eco-friendly interests.”

——————————–

Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

TRENDING RIGHT NOW