CPI Card Group® Honored by Industry Peers for Innovative LED Card Design

Rhea-AI Summary

CPI Card Group has been recognized with the 2024 Élan Award of Excellence in the People’s Choice category by the International Card Manufacturers Association (ICMA) for its innovative LED Card. The award was announced at the ICMA Expo in Orlando, Florida, held from May 13 to 16. The LED Card features embedded LEDs that illuminate when near a contactless reader, offering interactive feedback during transactions. This award reflects the industry and public appeal of CPI’s LED cards. Toni Thompson, Head of Operations, expressed gratitude for the team's dedication to innovation.

Positive

• CPI Card Group won the 2024 Élan Award of Excellence in the People’s Choice category, enhancing brand reputation.
• The LED Card's innovative design, featuring light-emitting diodes activated by contactless readers, highlights CPI's technological advancement.
• Recognition from a reputable industry body like ICMA can boost investor confidence in CPI's product innovation and market position.
• The award, voted on by ICMA Expo attendees, indicates strong industry support and potential market demand for CPI’s LED cards.

Negative

• The press release lacks detailed financial data, making it difficult for investors to assess the direct financial impact of the award.
• No information is provided on how the award or the LED Card will influence future revenue or profit margins for CPI.

CPI’s LED Card wins the 2024 ICMA Élan Award in People’s Choice Category.

LITTLETON, Colo.--(BUSINESS WIRE)-- CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or “the Company”), a payments technology company providing a range of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service (SaaS) instant issuance, announced it has been named a winner of the esteemed 2024 Élan Award of Excellence by the International Card Manufacturers Association (ICMA).

CPI won the association’s People’s Choice category for its LED Cards, which illuminate a credit or debit card in the presence of a contactless reader. The awards were announced at the ICMA Expo, held from May 13 to 16 in Orlando, Florida.

“CPI is proud to win the People’s Choice category of the Élan Awards as it is voted on by ICMA Expo attendees. This award is a testament to the wide appeal our LED cards will have in our industry as well as to the general public,” said Toni Thompson, Head of Operations. “I thank our teams for their tireless work in innovating the next generation of cards that communicate with customers during a contactless payment transaction. We are honored to receive this recognition from ICMA.”

CPI’s LED Cards feature embedded light emitting diodes (LEDs) that are activated when a card is close to a reader. The closer the card gets to the reader, the brighter the LEDs become, giving the user interactive feedback on the completion of their purchase. A power-harvesting antenna inside the card optimizes the LED light without impacting communication during the transaction.

ICMA’s Élan Awards, which included more than 130 entries this year, celebrate the pinnacle of design innovation, security and technical achievements by members of the card industry. ICMA is a global trade association for card manufacturers, personalizers, issuers and suppliers.

“The Élan Awards of Excellence distinguish ICMA card manufacturers, suppliers and personalization/fulfillment members before their peers and customers as industry leaders,” said Jeffrey Barnhart, executive director and founder of ICMA. “ICMA is proud to recognize the companies that have produced the best and most innovative products around the globe over the past year. Congratulations to CPI Card Group."

About CPI Card Group®

CPI Card Group is a payments technology company providing a comprehensive range of credit, debit, and prepaid card and digital solutions, including Software-as-a-Service (SaaS) instant issuance. With a focus on building personal relationships and earning trust, we help our customers navigate the constantly evolving world of payments, while delivering innovative solutions that spark connections and support their brands. We serve clients across industry, size, and scale through our team of experienced, dedicated employees and our network of high-security production and card services facilities—located in the United States. CPI was named one of the 2024 Best Companies to Work For by U.S. News & World Report and is committed to exceeding our customers’ expectations, transforming our industry, and enhancing the way people pay every day.

Learn more at www.CPIcardgroup.com.

About ICMA

For more than 30 years, ICMA has been a nonprofit association of card manufacturers, personalizers, suppliers and related industry participants. With more than 160 members globally, ICMA acts as a resource for industry issues, including the production, technology, application, security and environmental issues of cards. More information is available at icma.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240520554278/en/

Lauren Davis

Dix & Eaton

media@cpicardgroup.com

(740) 412-2189

Jennifer Kohlhepp

Communications Manager

International Card Manufacturers Association

(609) 297-2210

jkohlhepp@icma.com

Source: CPI Card Group

FAQ

What award did CPI Card Group win in 2024?

CPI Card Group won the 2024 Élan Award of Excellence in the People’s Choice category.

What is unique about CPI Card Group’s LED Card?

The LED Card features embedded LEDs that illuminate when near a contactless reader, providing interactive feedback during transactions.

When and where was the award announced?

The award was announced at the ICMA Expo, held from May 13 to 16, 2024, in Orlando, Florida.

How does CPI’s LED Card enhance user experience?

The LED Card provides interactive feedback by illuminating more brightly as it gets closer to a contactless reader, indicating transaction completion.

Why is the 2024 Élan Award of Excellence significant for CPI Card Group?

Winning the award enhances CPI’s brand reputation and indicates strong industry support and potential market demand for its innovative LED cards.