Unifimoney Announces Its Use of Recovered Ocean-Bound Plastic for Credit and Debit Cards
Unifimoney to issue contactless Visa credit and debit cards featuring a core made with recovered ocean-bound plastic. Each time the cards are used, Unifimoney will donate to The Ocean Foundation.
SAN FRANCISCO, June 8, 2020 /PRNewswire/ -- Unifimoney Inc., in celebration of World Oceans Day, today announced their Visa contactless cards will feature a core made with recovered ocean-bound plastic. Unifimoney has also partnered with The Ocean Foundation. Each time the cards are used, Unifimoney will contribute to The Ocean Foundation.
The cards are produced by CPI Card Group®, a payment technology company and leading provider of credit, debit and prepaid solutions. Named Second Wave™, the high-quality 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.
Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group, said, "We estimate that for every 1 million Second Wave payment cards produced, over 1 ton of plastic will be diverted from entering the world's oceans, waterways, and shorelines."
Over 6.4bn payment cards are made globally each year (Nilson 2018).
Mark Spalding, President, The Ocean Foundation: "Unifimoney's Recovered Ocean-Bound Plastic Cards and our partnership represents a highly innovative model for helping people engage and fund issues they care about like protecting our ocean and coasts."
Unifimoney will initially launch debit cards in Summer 2020 which are issued by UMB Bank. "Being a strong community partner is one of our core values at UMB, so we're proud to be the issuer of these environmentally friendly cards," said Doug Pagliaro, Senior Vice President, FDIC Sweep at UMB Bank.
"At Visa, we are working to make commerce greener and more sustainable," said Douglas Sabo, VP and Global Head of Corporate Responsibility & Sustainability at Visa Inc. "We applaud this innovative approach of Unifimoney. We are proud to be part of this group of partners who are committed to supporting sustainable practices and protecting our oceans."
Ben Soppitt, CEO of Unifimoney said, "This was a great opportunity to support and lead the industry towards greater sustainability and involve our users in protecting and restoring the ocean environment. We want to bring new innovations to market that help our customers and make a positive impact in the world."
About Unifimoney Inc.
The first full-service neobank serving young professionals. A single mobile account that seamlessly integrates high-yield checking, credit/debit card and investing. Users automatically, and by default, model best practices in personal financial management, maximizing their passive income today and creating a long-term investment portfolio effortlessly.
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