The Global Fintech Festival (GFF) 2024 is currently taking place in Mumbai, India. I met on the sidelines with Lucie Fonseca, Senior Director R&D Card Issuance Services, Giesecke+Devrient.
She went into detail about the features of the Ocean Plastic Card and said that the Ocean Card is made from plastic that comes from the oceans. We work with PARLEY who focus on the oceans of the world. They take plastic from seas, from beaches, etc. We work with them on plastic.
Parley for the Oceans is a non-profit environmental organization dedicated to protecting the oceans. It was founded in 2012 by Cyrill Gutsch.
The new card is made from ocean plastic. We have committed that by 2030, none of the cards we use will be made from plastic from the oil and gas industry. Until now, PET was used to make cards. Now we are using ocean plastic to make cards. The recycled plastic is different as it has a slightly different color, reminiscent of ocean waves.
We are also partnering with MasterCard for sustainability programs. The Ocean Plastic Card is a payment card. We hope there will be a lot of interest in India.
When asked why one should have the Ocean Plastic Card, she added that we are all global citizens. Today, Generation Z is more attuned to this product. Banks can also offer Ocean Plastic Card as standard and become known as a sustainable bank.
Earlier, RBI Governor Shaktikanta Das unveiled NPCI’s two new initiatives – Bharat BillPay for Business and UPI Circle. BBPS is designed to revolutionize business-to-business (B2B) transactions. UPI Circle offers two modes of delegation – partial and full.
