This makes it the first banking institution in Spain to issue recycled plastic cards. Following the conclusions of a study showing that 93% of people under 30 believe that all their cards should be sustainable, BBVA has chosen to initially target youth account holders, a more sensitive section of the population that is aware of environmental issues and the importance of protecting the environment.
Recycled PVC, the choice of an eco-friendly material
It is no coincidence that BBVA has opted for recycled PVC. After a year of in-depth studies on life cycle analysis, carbon footprint, in short, the environmental impact of the different materials considered, the bank finally chose this recycled plastic created from the production scraps of several industries, such as the automotive, construction and packaging industries.
The first cards launched at the end of spring were made of 86% recycled plastic, but the bank is committed to providing 100% recycled cards by the end of the year.
An environmentally-friendly means of payment
After having been started up in Spain, the initiative should be extended to other countries in which the bank has a presence (South America, Mexico, United States, Turkey, etc.). The offer, which is currently targeted at young people, should also be extended to all account holders.
As a result, more than half a million recycled PVC BBVA cards are expected to be put into circulation before the end of 2020, and their number should increase rapidly in the years to come.
Promoting a responsible use of resources without compromising quality and security.
To lead this initiative, Banco Bilbao Vizcaya Argentaria, one of the world's largest financial institutions based in Madrid and Bilbao, has joined forces with Idemia, the world leader in Augmented Identity (i.e. the security of a person's biometric data). These responsible cards - which have been awarded the "Environmental Claim Validation Summary" label by UL Environment, Inc. - are also highly secure. All newly issued cards will be stamped with a symbol on the back indicating that they are made of recycled PVC.
According to the Nilson Report 20181, around 6 billion plastic bank cards are produced each year.