(BUSINESS WIRE)--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 marked Earth Day by announcing a collaboration with Payactiv, the leader in Earned Wage Access (EWA) and a Certified B-Corp, to produce Earthwise™ High Content Cards for the Payactiv Visa® Card* programs. The Earthwise™ High Content Card, which is made with up to 98 percent upcycled plastic, depending on design, helps reduce first-use plastic in payment cards and uses plastic waste that might otherwise end up in a landfill. The collaboration between the companies is the latest example of CPI’s and Payactiv’s broader commitment to environmental stewardship.
Through Earthwise™, Payactiv can offer its users an EMV® compliant and dual interface capable card produced using post-industrial upcycled plastic. Earthwise™ will allow Payactiv, the only EWA provider whose program has been approved as a non-credit product by the Consumer Financial Protection Board (CFPB), to offer businesses a holistic financial wellness solution that also counts sustainability within its unique value proposition.
“We’re thrilled to join with CPI to offer payment cards made with more eco-focused materials and reduce our impact on the environment,” said Payactiv Founder and CEO Safwan Shah. “With Earthwise™, making an impact has never been so important for businesses, their employees and stakeholders. We look forward to financially empowering millions of people with our platform, while bringing clients into the fold as we help create a more sustainable future.”
"Visa is committed to driving sustainable commerce, including advancing sustainability in payment cards and accounts," said Douglas Sabo, Chief Sustainability Officer, Visa. “We’re proud of our work with CPI Card Group, and we applaud their collaboration with Payactiv to support the future of a more sustainable payments ecosystem.”
The Earthwise™ High Content Card is part of Earth Elements™, CPI’s portfolio of more eco-focused payment cards, which includes the recently launched Earthwise™ Recycled PVC Card, featuring up to 85 percent upcycled PVC, dependent on design. The portfolio also features Second Wave®, the first to market, EMV® compliant, dual interface capable, high quality payment card featuring a core made with recovered ocean-bound plastic.
“Our relationship with Payactiv is driven by a shared purpose to be more environmentally responsible. We’re thrilled to collaborate on offering eco-focused cards as we extend the reach of Earthwise™ cards and help reduce the use of first-use plastic in payment products,” said Guy DiMaggio, SVP & GM of Secure Card and Sustainability Solutions, CPI Card Group. “We applaud Payactiv’s continued efforts to lead by example in taking steps to protect the environment and are proud to support a new way for the businesses and people they serve to join them in their mission.”
Also announced today, Payactiv will seek to partner with a leading design school to continue to identify and support the future development of environmentally inspired designs and expressions. These designs will be showcased in an annual competition to review the best ideas on how to encourage the use of eco-focused payment cards.
To learn more about the Earthwise™ High Content Card, click here.