Swiss bank UBS created a sustainable credit card that's made from PLA, an 80% biodegradable material made from renewable animal feed corn. The corn-based plastic substitute sets the card apart as an environmentally friendly option and it supports the bank's commitment to not only sustainable products but also forms of payment. The contactless-enabled Optimus Foundation Credit Card Eco looks just like regular credit cards but offers a more sustainable composition thanks to its mindful material use. In 2021, UBS is introducing a digital-only card that can be used immediately upon acceptance.
At a time when people are increasingly relying on payment cards and other means of making contactless payments, a variety of physical cards are being updated with more eco-friendly designs.
Corn-Based Credit Cards
This Sustainable Credit Card is Made from 80% Biodegradable Material
Trend Themes
1. Eco-friendly Payment Cards - The trend of creating payment cards with sustainable and biodegradable materials is growing, offering companies opportunities to cater to environmentally conscious consumers.
2. Digital Payment Cards - Digital-only payment cards are becoming more popular, presenting opportunities for financial institutions to provide convenient and contactless payment options for their customers.
3. Sustainable Banking - Sustainability is becoming a key focus for banks, and innovative products like the corn-based credit card create opportunities for financial institutions to differentiate themselves and attract environmentally conscious customers.
Industry Implications
1. Financial Services - Financial services companies are able to leverage trends in eco-friendly payment cards, digital payment cards, and sustainable banking to gain a competitive edge and attract environmentally conscious customers.
2. Plastics and Packaging - As companies search for more sustainable substitutes to traditional plastics and packaging, materials like PLA from renewable sources like animal feed corn could become more in-demand.
3. Agriculture and Farming - The rise of sustainable and biodegradable materials like PLA made from renewable animal feed corn could create opportunities for agriculture and farming industries to diversify and enter new markets.