Unifimoney Will Use Ocean-Bound Plastic to Make Credit and Debit Cards

(Credit: Unifimoney)

Unifimoney Inc. today announced their Visa contactless cards will feature a core made with recovered ocean-bound plastic.

The cards are produced by CPI Card Group, a payment technology company and provider of credit, debit and prepaid solutions. Named “Second Wave,” the card is EMV compliant, dual interface capable, and features a core made with recovered ocean-bound plastic. According to a CPI Card Group Consumer Insights Study, conducted by an independent research firm:

• 94% of those surveyed said they were concerned about the amount of plastic waste in the oceans.
• 87% of respondents found the idea of an ocean-plastic card appealing.
• 53% were willing to switch to another financial institution if it offered such cards with the same features and benefits.

According to Nilson, over 6.4 billion payment cards are made globally each year. Card Group estimates that for every 1 million Second Wave payment cards produced, more than 1 ton of plastic will be diverted from entering the world's oceans, waterways, and shorelines.

Unifimoney will initially launch debit cards in Summer 2020 which are issued by UMB Bank. Unifimoney has also partnered with The Ocean Foundation. Each time the cards are used, Unifimoney will contribute to The Ocean Foundation.

This announcement comes on the heels of World Oceans Day, a time when corporations worldwide are assessing their use of plastics and how it affects the water and environment around them.