LITTLETON, Colo., Aug. 13, 2020--(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 announced that it has joined the First Mile, a group of brands and companies committed to using First Mile Material – responsibly collected recycled plastic that supports waste collection networks in Haiti, Honduras and Taiwan.
First Mile works directly with waste reclamation workers who recover plastic that otherwise pollutes the streets, canals, and landfills of their communities. To date, First Mile has diverted more than 5.4 million lbs. of plastic waste from landfills and oceans, generating over $690,000 in revenue for these collection networks.
“We are thrilled to welcome CPI to join a group of bold, innovative brands leading the way in responsible sourcing,” said Kelsey Halling, Director of Partnerships at First Mile. “The CPI and First Mile collaboration will positively impact lives by assigning value to plastic waste.”
CPI’s First Mile Membership comes as the Company continues to drive its corporate social responsibility. As part of the Company’s ongoing commitment to environmental stewardship, CPI has introduced Second Wave™, the first to market, EMV® compliant, dual interface capable, high quality payment card featuring a core made with recovered ocean-bound plastic. Through First Mile and other CPI suppliers, the material for Second Wave™ is responsibly sourced from plastic waste recovered from areas within 50 kilometers of a seashore or near waterways leading into the ocean, in countries or regions lacking adequate waste management infrastructure.
Additionally, CPI is committed to giving back to local sourcing communities and has contributed to projects to protect and improve the lives of collectors and their families in these areas. Beyond supporting the people and communities where the recovered ocean-bound plastic is sourced, CPI estimates that for every one million Second Wave™ payment cards produced, over one ton of plastic will be diverted from entering the world’s oceans, waterways and shorelines.
“Our solutions allow financial institutions and their cardholders to be participants in helping reduce the environmental impact of first-use plastic, while supporting local sourcing communities in the process,” said Guy DiMaggio, SVP & General Manager of Secure Card Solutions at CPI Card Group. “We hope to set an example for industries everywhere on how innovation can be leveraged to engage people and businesses under the common goal of protecting our planet. We are excited to join First Mile as we continue expanding our sustainability efforts.”
Second Wave™ is among the offerings from CPI Earth Elements™, a portfolio of more eco-friendly payment cards designed to help reduce first-use plastic in payment cards. To learn more about Second Wave™, click here.
About First Mile
First Mile works with global brands to source responsibly collected recycled polyester. Working directly with waste reclamation networks in Haiti, Honduras, and Taiwan, First Mile has transformed more than 96 Million plastic bottles into income opportunities and useful products. First Mile is owned by Thread International PBC INC, and used to operate under the name Ground to Good fabric. While the name has evolved, our commitment to transparency and holistic impact remains the same. To learn more visit: www.firstmilemade.com.
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.
EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.
ICR Inc. for CPI Card Group
TheGreen Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .
Source: Company press release.