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.
Image Credit: UBS
Why This Trend Is Growing
- 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.
- 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.
- 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.
Industries Being Reshaped
- 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.
- 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.
- 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.
