With many products on the market being focused on recycling existing plastics, not everyone is yet sold on 100% wood cards. So, we’re doing a bit of myth busting to reinforce why these premium products bring together the best of sustainability and innovation…
Can wood cards integrate cutting-edge technology?
Technology and security are at the heart of all our banking payment products: this remains as standard, even with a wood card body.
The Thales Gemalto Wood Card supports all payment types, including contactless, contact, and magstripe. It has also been Visa and MasterCard certified and is fully compliant with all ISO, EMV and industry standards, providing a more sustainable card without compromising on functionality.
The card’s wooden design also provides a natural exclusivity. Each card features a unique combination of wood, with the final product having its own individual colours and patterns.
Banks are therefore able to offer the card to customers as a premium and distinctively eco-friendly product. Our research shows that wood is perceived as twice as premium as other sustainable materials, and 65% of consumers are ready to pay above 50% more for the wood card than for a plastic card.
What about deforestation?
It might seem counterintuitive to an eco-friendly strategy to be cutting down trees to make payment cards. However, one cubic meter of harvested wood is enough to make 100,000 bank cards.
The Thales Wood Card is sustainably sourced from FSC-certified forests that are managed to safeguard and enhance the vitality and longevity of forest ecosystems. The net result is a carefully controlled harvesting of trees to ensure the resource remains renewable in the long term.
So, what next?
An estimated six billion plastic cards are produced globally each year, so now it’s over to the banking sector and consumers to explore new ways to make bank card production and usage more sustainable.
It’s important to note, however, that considerations should go beyond the card material itself, and also consider factors such as supply chain emissions. Greater consumer education will also be needed to support more sustainable choices.
Wood cards represent one exciting innovation and a highly attractive product for customers looking for more premium and more sustainable products. You can request a prototype wood card and find out more about our other eco-friendly payment solutions below:
