CPI Card Group® Reaches Milestone of Delivering 25+ Million Contactless Second Wave® Cards

Rhea-AI Summary

CPI Card Group (OTCQX: PMTS, TSX: PMTS) announced the milestone of delivering over 25 million Second Wave® payment cards since its launch in 2019. This EMV® compliant card, made from recovered ocean-bound plastic, diverts an estimated 25 tons of plastic from oceans. The company allocates a portion of sales to support communities involved in plastic recovery, contributing to COVID-19 response and educational initiatives. CPI aims to align with environmental goals and enhance corporate responsibility through its innovative product offerings.

Positive

• Delivered over 25 million Second Wave® cards since launch in 2019.
• Diverted an estimated 25 tons of plastic from entering oceans.
• Sales from Second Wave® cards fund community support projects.

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• 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, today announced that it has delivered over 25 million of its Second Wave® payment cards since its launch in 2019.

Second Wave®, a Gold Stevie® Award winner, is available to financial payment card issuers and markets including transit, hospitality, entertainment and more. The EMV® compliant and dual interface capable card features a core made with recovered ocean-bound plastic, enabling companies to engage a growing market of environmentally-conscious consumers while helping reduce first-use plastic and divert plastic waste from entering the ocean. The Company estimates that for every one million Second Wave® cards produced, over one ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines. Having produced and delivered over 25 million Second Wave® cards through 2020, CPI has now diverted at least an estimated 25 tons of plastic from entering the ocean.

The success of Second Wave® enables CPI to support the communities from which the recovered ocean-bound plastic used in Second Wave® cards is sourced. CPI allocates a portion of the proceeds from every Second Wave® card it sells to projects that benefit these communities. This includes donations made to WORK, the non-profit sister company of CPI partner First Mile. The Company’s monetary contributions have supported COVID-19 response efforts, helping preventative efforts that better enabled families to shelter in place and receive access to COVID-19 treatment. CPI’s donations also supported relocations and home improvements, as part of an effort to ensure families within the communities we source from could be safer and more secure ahead of hurricane season. Additionally, the Company has contributed funds to initiatives that provide children in the community with materials and resources to support their education.

“We are proud to lead by example through a product that not only demonstrates our commitment to responsible corporate citizenship – it also gives card issuers the opportunity to join us in our mission to divert plastic waste from entering the environment to support their ESG goals,” said Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group. “It is a privilege to support the needs of the communities where we source materials through the success of Second Wave®. We look forward to growing the beneficial impact of Second Wave® cards for years to come.”

To learn more about Second Wave®, 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/20210209005044/en/

FAQ

What milestone did CPI Card Group achieve with the Second Wave® cards?

CPI Card Group announced it delivered over 25 million Second Wave® payment cards since its launch in 2019.

How much plastic has CPI Card Group diverted from oceans?

CPI Card Group estimates it has diverted at least 25 tons of plastic from entering the oceans through its Second Wave® card production.

What is the environmental impact of the Second Wave® cards?

The Second Wave® cards are made from recovered ocean-bound plastic, helping reduce plastic waste in oceans and supporting environmental sustainability.

How does CPI Card Group support communities with its Second Wave® cards?

CPI allocates a portion of proceeds from Second Wave® cards to projects that benefit communities involved in plastic recovery, including support for COVID-19 response and education.