Eco-Focused Cards from CPI Card Group® Earn Card Eco Certification

Rhea-AI Summary

CPI Card Group (PMTS) has announced that its Second Wave® and Earthwise™ rPVC cards have received approval from Mastercard as part of its sustainable card program. These cards are made with upcycled plastics, contributing to reduced plastic waste and supporting eco-conscious consumer choices. The certification from Mastercard ensures these products meet sustainability standards, aiding financial institutions in offering environmentally-friendly payment options. The acknowledgment reinforces CPI’s commitment to sustainability in the payments industry.

Positive

• Second Wave® and Earthwise™ rPVC cards received certification from Mastercard for sustainability.
• These products utilize upcycled materials, reducing plastic waste and attracting eco-conscious consumers.
• Certification enhances CPI's reputation as a leader in sustainable payment solutions.

Negative

• None.

CPI®’s Second Wave® and Earthwise™ rPVC cards join Mastercard’s list of approved sustainable card products and may carry Mastercard’s Sustainable Card Badge.

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 CPI Second Wave and Earthwise rPVC, containing upcycled plastic have earned sustainable card badges from Mastercard’s sustainable card program. The program, which is designed to make sustainable card choices the preferred option for all financial institutions, independently assesses, evaluates and certifies sustainability claims put forward by card vendors in relation to their card products. CPI’s Second Wave® and Earthwise™ rPVC cards are the latest to be added to Mastercard’s approved Sustainable Materials Directory.

The directory of products with a sustainable card badge serves as a resource to Mastercard issuers, supporting their efforts to diversify their portfolios with cards made with more sustainable materials. To qualify to receive the certification, Mastercard uses an independent firm that evaluates card products across several different categories to determine whether the materials offer significant improvement in outcomes versus a traditional PVC card. These products from CPI’s portfolio were both independently assessed and certified by Mastercard as being in compliance with the required standards and can now feature Mastercard’s Sustainable Card Badge.

Second Wave® payment cards feature a core made with recovered ocean-bound plastic. This option enables financial payment card issuers to engage the growing market of environmentally-conscious consumers while also helping reduce first-use plastic and divert plastic waste from entering the ocean. CPI’s Earthwise™ rPVC cards are aimed at reducing first-use PVC in payment cards by using plastic waste that might otherwise end up in a landfill. CPI’s Earthwise™ rPVC card features up to 85 percent upcycled PVC. Both cards are EMV® compliant and dual-interface capable, enabling both contact and contactless payment.

“We applaud Mastercard’s efforts to guide issuers as they embrace sustainability through more eco-focused payment cards,” said John Lowe, SVP and General Manager Secure Card, CPI Card Group. “It’s an honor to have our Second Wave® and Earthwise™ rPVC cards earn this certification and validation. We look forward to helping more issuers adopt eco-focused cards and join us as we lead the payments industry to a more environmentally-friendly future.”

To learn more about CPI’s 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220712005427/en/

ICR Inc. for CPI Card Group

Sourav Das

203-682-8283

media@cpicardgroup.com

Source: CPI Card Group Inc.

FAQ

What are the sustainable card products launched by CPI Card Group?

CPI Card Group has launched the Second Wave® and Earthwise™ rPVC cards, certified for sustainability by Mastercard.

When did CPI Card Group receive approval for sustainable cards?

The approval for CPI Card Group's sustainable cards was announced on July 12, 2022.

What is the significance of the Mastercard Sustainable Card Badge?

The Mastercard Sustainable Card Badge indicates that a card product meets specific sustainability standards set by Mastercard.

What materials are used in CPI's sustainable payment cards?

The Second Wave® cards are made with recovered ocean-bound plastic, while Earthwise™ rPVC cards use up to 85% upcycled PVC.

How does the approval affect CPI Card Group's market position?

The approval positions CPI as a competitive player in the sustainable card market, attracting environmentally-conscious institutions.