Premiere in Romania: Banca Transilvania starts the sustainable transformation on the card market

The first environmentally friendly card in Romania is the Visa Classic debit card, issued by BT and produced by IDEMIA.

Transforming the Visa Classic card portfolio into an eco-friendly one means reducing the carbon footprint by 36%.

BT aims to make all newly issued cards eco-friendly by 2022.

By 2025, almost the entire portfolio of BT cards will be made from recycled plastic and biodegradable items.

From now on, Banca Transilvania has in its portfolio environmentally friendly cards, made of recycled plastic and biodegradable elements. The first eco-friendly card in Romania is the BT Visa Classic debit card, made in collaboration with IDEMIA, a global leader in augmented identity and in the innovative payment technology industry. In a first stage, the new cards will be issued in this version, and later they will be the ones reissued as a result of the expiration of the card. The new version keeps all the functionalities of the existing card – from access to the current account in lei, to contactless payments.

Banca Transilvania started with Visa Classic the transformation of its card portfolio because it is the most common card among its customers, with over 2.9 million cards in circulation. Transforming this portfolio into an eco-friendly one means reducing the carbon footprint by 36%. Also to protect the environment and reduce consumption, BT will replace existing cards with recycled plastic versions as they expire, and not before this time.

The bank has proposed that by 2022 all issued cards be eco-friendly, so that by 2025 almost the entire portfolio of BT cards will be made of recycled plastic and biodegradable elements. The bank will also continue to encourage the use of digital cards through BT Pay and other alternative payment instruments. Currently, 1 in 2 BT cards are included in digital format, and the trend is growing.

We are happy to mark a new premiere on the market. By turning the cards into an environmentally friendly version, we help reduce the negative impact on it. The infrastructure and payment habits do not allow us to have only digital cards for the time being, but we are happy to have the physical support at Banca Transilvania in an eco-friendly way, during the transition to a 100% digital environment. It is an essential step for us, as a leader in the card market, in supporting the implementation of the circular economy, starting from the largest card portfolio, Visa Classic“, Declares Oana Ilaş. Executive Director of Retail Products Management & Development, Banca Transilvania.

IDEMIA is proud to be a long-term partner of Banca Transilvania and to support its sustainability objectives with our GREENPAY solutions, offering new greener products and services, in line with the growing consumer demand for such products. Migration to recycled plastic reduces plastic waste, saves energy, limits oil consumption and reduces greenhouse gas emissions, to help mitigate global warming and reduce air pollution, which is one of the most pressing problems in our world. Modern“, Says Tomas Kovarik, Vice President of CEE & CIS, Financial Institutions, IDEMIA.

IDEMIA’s GREENPAY solutions enable the responsible use of resources and aim to reduce the use of PVC plastic in the manufacture of cards, minimizing the impact on the environment and pollution.

Through remote banking for individuals and companies, Banca Transilvania offers a series of alternative green payments, through which it contributes to the financial inclusion of Romanians and to the decrease of the carbon footprint. Most are in the BT Pay, NeoBT and BT Visual Help applications, namely: access to digital cards before they are physically received (BT Pay); online current account opening and online card issuance (NeoBT), with digital signature; obtaining account statements in electronic format; receiving by SMS the PINs / activation codes of the cards, etc.

BT is the leader of the card market in Romania, with a market share of approximately 23%.

Banca Transilvania is the largest bank in Romania and the main financier of the economy. With a story started almost 30 years ago, it has over 18% market share, 3.4 million customers, 3 business lines, over 9,000 employees, online banking solutions and 500 offices in 180 localities. It is the only Romanian banking brand in the Brand Finance Banking 500 (2021). Beyond banking, BT wants to have a positive impact in Romania, both for people and for business and the environment.

.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending