IDEMIA and BBVA partner to launch Spain’s first payment card made of recycled PVC

The bank will first distribute the cards to their Spanish customers with a BBVA Youth Account in June 2020

IDEMIA and BBVA partner to launch Spain’s first payment card made of recycled PVC. (Credit: Business Wire)

IDEMIA, the global leader in Augmented Identity, is supplying the very first cards made out of recycled plastics in Spain to BBVA. The bank will first distribute the cards to their Spanish customers with a BBVA Youth Account in June 2020. This new payment card is a strong commitment from BBVA to contributing to the United Nations Sustainable Development Goals for the fight against climate change.

Each year, approximately 6 billion plastic payment cards are produced according to the 2018 Nilson Report1. In the context of the United Nations Sustainable Development Goals and the Paris Agreement, IDEMIA’s cutting-edge technology has been selected by BBVA, one of the largest banks in Spain, to migrate part of its existing first-use PVC cards to innovative recycled PVC cards.

By the end of the year BBVA will enable more than half a million Spanish customers to benefit from an eco-friendly alternative in payment. The new model will include a symbol on the back indicating that is made of recycled plastic, and will initially be distributed to BBVA’s account for young people.

“Young people in particular, are aware of the importance of protecting the environment and their demand for sustainable solutions is growing. We have chosen IDEMIA’s trusted solutions in order to accompany our customers in the environmental transition journey,” says Ana Pitarch, the Head of Individual Customers for BBVA in Spain.

Thanks to its expertise in the field of card manufacturing, IDEMIA has been able to produce a card that promotes a responsible use of natural resources without compromising on quality and security. This card is made out of recycled PVC materials originating from industrial waste, in line with the circular economy principles to limit consumption and waste of natural resources while contributing to waste reduction. IDEMIA has also obtained from its recycled PVC supplier an “Environmental Claim Validation Summary” issued by UL Environment, Inc.

The partnership between IDEMIA and BBVA will progressively allow the bank to deliver cards made of “eco-friendly” materials to customers in all countries where it has a presence by the end of 2021, with the commitment to rapidly reduce first-use PVC plastic in card manufacturing at worldwide level.

Amanda Gourbault, Executive VP of the Financial Institutions Business Unit at IDEMIA said: “This first card made of recycled plastic in Spain is a big leap forward for the adoption of cards made from recycled plastics. We are thrilled to be making history in this market by bringing the best of our expertise to contribute to the good of society as a whole.”

Source: Company Press Release