CPI Card Group® Becomes the First Licensee in the ICMA EcoLabel Standard Program

Rhea-AI Summary

CPI Card Group (OTCQX: PMTS, TSX: PMTS) has become the first licensee of the ICMA EcoLabel Standard Program, recognizing its commitment to sustainability in the card manufacturing industry. The program, established by the International Card Manufacturers Association, evaluates eco-friendly payment and identification cards based on measurable criteria. CPI's Second Wave™ and Earthwise™ cards, made from recovered ocean-bound and upcycled plastics, have been certified under this new standard, aiming to meet growing consumer demand for sustainable payment options.

Positive

• First company to become a licensee of the ICMA EcoLabel Standard Program.
• Introduced certified eco-friendly cards: Second Wave™ and Earthwise™.
• Enhanced brand reputation through commitment to sustainability.

Negative

• None.

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, recently became a licensee for the new ICMA EcoLabel Standard Program created by the International Card Manufacturers Association (ICMA), a global trade association for card manufacturers, personalizers, issuers and suppliers. CPI is the first company to become a licensee for the program, which recognizes ICMA member card manufacturers for their commitment to sustainability and for specific card products that meet program requirements.

Created in response to consumer and card issuer demand for more eco-friendly payment and identification cards, the ICMA EcoLabel Standard Program sets measurable criteria for assessing the environmental impact of cards. Categories for analysis might include reduced materials, the amount of recycled or bio-based content used in card construction, or the ability to be compostable. The voluntary program allows licensees to demonstrate their support of sustainability initiatives and offer their issuer clients a valuable EcoLabel opportunity for the eco-friendly cards in their portfolio.

CPI’s Recovered Ocean Bound Plastic and High Upcycled Content payment cards have both been certified through the new program, with the cards meeting the ICMA EcoLabel criteria as verified by a third party assessor. The Recovered Ocean Bound Plastic card, known as Second Wave™, is the first to market, EMV^® compliant, dual interface capable, high quality payment card featuring a core made with recovered ocean-bound plastic. The High Upcycled Content card, known as Earthwise™, is also EMV compliant and dual interface capable, is produced using post-industrial upcycled plastic. The two cards are part of Earth Elements™, CPI’s portfolio of more eco-focused payment cards – designed to empower financial institutions and the consumers they serve.

“We applaud the ICMA for taking the initiative to define an evaluation and labelling standard for eco-focused cards that the card industry can rally behind, learn from and leverage to support sustainability initiatives,” said Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group. “We are honored to be the first company to become a licensee in the ICMA EcoLabel Standard Program and aim to continue leading financial institutions, cardholders and our industry peers toward a more sustainable future for card products.”

To learn more about Earth Elements™, click here.

About ICMA

Celebrating its 30^th anniversary in 2020, ICMA is a nonprofit association of card manufacturers, personalizers, suppliers and related industry participants. With more than 200 members globally, ICMA is a resource for industry issues, including the production, technology, application, security and environmental issues of cards. More information is available at icma.com.

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.

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FAQ

What is the significance of CPI Card Group becoming a licensee of the ICMA EcoLabel Standard Program?

CPI Card Group's status as the first licensee of the ICMA EcoLabel Standard Program highlights its commitment to sustainability and positions it as a leader in the eco-friendly card manufacturing sector.

What are the eco-friendly cards certified by CPI Card Group?

CPI Card Group's eco-friendly cards certified under the ICMA EcoLabel Standard are the Second Wave™ card, made from recovered ocean-bound plastic, and the Earthwise™ card, made from post-industrial upcycled plastic.

What does the ICMA EcoLabel Standard Program evaluate?

The ICMA EcoLabel Standard Program evaluates the environmental impact of payment and identification cards based on criteria such as material reduction, recycled content, and compostability.

How does CPI Card Group support sustainability initiatives?

CPI Card Group supports sustainability initiatives by producing eco-friendly payment solutions and becoming a licensee of the ICMA EcoLabel Standard Program, enhancing its product offerings.