PSCU Collaborates with CPI Card Group to Reduce Plastic Waste
November 15 2021 - 9:00AM
Business Wire
In conjunction with National Recycling Day, recognized on Nov.
15, PSCU – the nation’s premier payments credit union service
organization (CUSO) – has announced it is collaborating with CPI
Card Group Inc. (Nasdaq: PMTS) to offer cards that reduce first-use
plastic by incorporating recycled plastic into the card body.
According to a CPI survey conducted by an independent research
firm, 91% of debit and credit cardholders indicate they are
concerned about plastic waste in landfills, and 73% of respondents
say it is important that their financial institution is
environmentally conscious. In the next several months, PSCU will
begin providing Owner credit unions with access to the following
CPI products:
- CPI’s Earthwise™ upcycled payment card, which is aimed
at reducing first-use plastic and reusing plastic waste that might
otherwise enter a landfill. The Earthwise™ Recycled PVC card can
contain up to 85% upcycled plastic, depending on design.
- CPI’s Second Wave® payment card is the first payment
card featuring a core made with recovered ocean-bound plastic. CPI
estimates more than a ton of plastic will be diverted from entering
the world’s oceans, waterways and shorelines for every 1 million
Second Wave® payment cards produced.
“Our goal in offering products like Earthwise™ and Second Wave®
is to reduce first-use plastic in payment cards, either by
diverting plastic waste from entering the world’s oceans or by
using post-industrial plastic that might otherwise have entered a
landfill,” said Terra Grantham, vice president of Strategy and ESG
of CPI. “We want to lead the payments industry towards reducing
first-use plastic in conjunction with delivering a world-class
cardholder experience for consumers. With the help of CUSOs like
PSCU, we are getting one step closer to driving a meaningful impact
towards more eco-focused card products.”
PSCU is working to minimize environmental impact and reduce its
carbon footprint where possible. The CUSO’s sustainability efforts
include instituting and promoting recycling efforts, reducing
consumption, reusing materials and choosing more eco-friendly
products, among other initiatives.
“It is clear that financial institutions and their cardholders
care about the environment and are looking to partners across the
industry for help with adopting the mantra of ‘Reduce, Reuse,
Recycle,’” said Cody Banks, vice president of Payment & Fraud
Solutions at PSCU. “PSCU is proud to play an active role in helping
mitigate the payments industry’s environmental waste, and we look
forward to working alongside CPI to provide more eco-focused
products to our Owner credit unions and their members.”
About PSCU PSCU, the nation’s premier payments CUSO,
supports the success of more than 1,800 financial institutions
representing more than 6.9 billion transactions annually. Committed
to service excellence and focused on innovation, PSCU’s payment
processing, risk management, data and analytics, loyalty programs,
digital banking, marketing, strategic consulting and mobile
platforms help deliver possibilities and seamless member
experiences. Comprehensive, 24/7/365 member support is provided by
contact centers located throughout the United States. The origin of
PSCU’s model is collaboration and scale, and the company has
leveraged its influence on behalf of credit unions and their
members for more than 40 years. Today, PSCU provides an end-to-end,
competitive advantage that enables credit unions to securely grow
and meet evolving consumer demands. For more information, visit
pscu.com.
About CPI Card Group Inc. 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20211115005203/en/
Media: Leah Knepper French/West/Vaughan 919-277-1176
LKnepper@fwv-us.com
ICR Inc. for CPI Card Group Sourav Das 203-682-8283
media@cpicardgroup.com
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