CPI Card Group® Crosses 50 Million Mark for Eco-Focused Payment Cards Sold

Rhea-AI Summary

CPI Card Group has achieved a significant milestone by selling over 50 million eco-focused payment cards from its Earth Elements™ portfolio. This growth follows the launch of the Second Wave® payment card in 2019 and subsequent Earthwise™ cards in 2020 and 2021. The Second Wave® card utilizes recovered ocean-bound plastic, diverting over one ton of plastic for every million cards sold. The Earthwise™ cards are designed to reduce first-use PVC, with up to 98% upcycled plastic. CPI emphasizes its commitment to sustainability in the payments industry.

Positive

• Sold over 50 million eco-focused payment cards.
• Diversion of over one ton of plastic for every one million Second Wave® cards sold.
• Recognition of environmental responsibility in the payments industry.

Negative

• None.

CPI^®’s Suite of Upcycled Plastic and Recovered Ocean-Bound Plastic Cards Helps Support the Sustainability Goals of Financial Institutions and FinTechs

LITTLETON, Colo.--(BUSINESS WIRE)-- CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced that it has sold over 50 million of its eco-focused payment cards. This significant milestone for its Earth Elements™ portfolio showcases the momentum that started with the launch of CPI’s Second Wave® payment card in 2019, followed by the introductions of the Earthwise™ recycled PET-G Card and Earthwise™ recycled PVC Card in 2020 and 2021, respectively.

“Developing the Earth Elements™ payment card portfolio has been one of our proudest accomplishments at CPI, as it represents a whole new way of thinking about payment cards,” said Terra Grantham, VP, Strategy and ESG, CPI Card Group. “Through our efforts, we’ve broadened the availability of eco-focused materials that are available for the card market and put a spotlight on the environmental concerns that consumers and card issuers share. Reaching this milestone of having sold over 50 million payment cards validates those efforts. The whole team is looking forward to continuing our work and growing our opportunities to make a positive impact with these products.”

Second Wave^®, a Gold Stevie^® Award winner, is available to financial payment card issuers and markets including transit, hospitality, retail and more. The EMV® compliant and dual-interface capable card features a core made with recovered ocean-bound plastic, allowing companies to engage the growing market of environmentally-conscious consumers while also helping reduce first-use plastic and divert plastic waste from entering the ocean. The Company estimates that for every one million Second Wave® cards sold, over one ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines.

The Earthwise™ recycled Polyethylene terephthalate glycol (rPET-G) card, also a Gold Stevie^® Award winner, is available to issuers across card industry segments, from financial institutions to fintechs. The high content card is the first payment card made with up to 98 percent upcycled plastic, depending on design, that is EMV® compliant and dual-interface capable. The Earthwise™ rPET-G card is aimed at reducing first-use PVC in payment cards by using plastic waste that might otherwise end up in a landfill. The second Earthwise™ recycled Polyvinyl Chloride (rPVC) card from CPI features up to 85 percent upcycled PVC. The card is also EMV® compliant and dual-interface capable, enabling both contact and contactless payment.

“We applaud our customers and partners for helping us bring greater environmental responsibility to the payments industry and making this milestone possible,” added Grantham.

To learn more about CPI’s Earth Elements® portfolio of eco-focused payment cards, click here.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220309005193/en/

ICR Inc. for CPI Card Group

Sourav Das

203-682-8283

media@cpicardgroup.com

 

Source: CPI Card Group Inc.

FAQ

What milestone did CPI Card Group achieve in 2023?

CPI Card Group announced the sale of over 50 million eco-focused payment cards as of 2023.

What are the primary components of CPI's Earth Elements™ payment card portfolio?

The Earth Elements™ portfolio includes the Second Wave® card made from recovered ocean-bound plastic and Earthwise™ cards made from recycled materials.

How does the Second Wave® card contribute to environmental goals?

The Second Wave® card diverts over one ton of plastic from oceans and waterways for every one million cards sold.

What percentage of upcycled plastic is used in the Earthwise™ recycled PET-G card?

The Earthwise™ recycled PET-G card can contain up to 98% upcycled plastic, depending on the design.

What recognition has CPI Card Group received for its payment cards?

CPI's Second Wave® and Earthwise™ cards have won Gold Stevie® Awards for their innovative designs.