Starting this autumn, Handelsbanken Finland will offer its customers debit or credit cards made from recycled ocean plastic. Tietoevry will manufacture, personalize and deliver the payment cards.
30 May 2022
At least 8 million tons of plastic waste enters our oceans every year. Instead of breaking down, plastic breaks apart into tiny pieces. These fragments end up in the marine food web, posing a major threat to sea life and to human health. This global challenge can be improved by collecting and reusing plastic waste from oceans and coastal areas.
Especially in developing countries, a large proportion of plastic eventually ends up in the sea. Ocean plastic material for Handelsbanken’s cards is created from upcycled plastic waste collected from remote islands, shorelines, waters and in coastal communities.
Plastic waste is sorted and eventually made into raw material from which Tietoevry, Handelsbanken Finland’s card supplier, manufactures and personalizes payment cards for the bank’s customers.
Although the transport of collected ocean plastics to Europe by sea freight results in CO2 emissions, the total emissions are lower than if the cards were made of traditional plastic.
“The introduction of more environmentally friendly material in cards is part of Handelsbanken's more comprehensive responsibility strategy. We want to make good choices in small and big things. We chose marine plastic because it combines recycled material with the goal of increasing environmental awareness and local know-how in areas where recycling opportunities have been lacking, and the sensitive marine environment is present,” says Hanna Lippu, Card Product Manager, Handelsbanken.
Ocean plastic raw material is made from PET, which is widely used in items such as plastic bottles. It is more environmentally friendly – but still as durable an option – as the traditional payment cards made from PVC plastic.
“Currently over 70% of a payment card body can be made of recycled ocean plastic. Ocean plastic cards not only minimize the introduction of virgin plastic; they also contribute to reducing the amount of plastic in oceans. We are happy to work on this project together with our card partner Thales," says Jarmo Rouhiainen, Head of Card Production & Personalization in Tietoevry Banking.
“We believe that the introduction of environmentally friendly alternatives is also important for our customers. The physical payment card will remain in the wallet of all of us for a long time to come, as it is the most widely used payment method, so it is important to move to a more responsible manufacturing material,” Hanna Lippu says.
From September 2022, all Handelsbanken's new cards in Finland will be made from recycled ocean plastic.
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Handelsbanken is known for its strong corporate culture and customer-focused, flexible service. For many years, Handelsbanken has been at the forefront of an extensive customer satisfaction comparison in both Finland and the other Nordic countries (EPSI Rating). Handelsbanken was founded in Stockholm in 1871, and Handelsbanken's share is the oldest share listed on the Stockholm Stock Exchange. Handelsbanken has been operating in Finland since 1985.
In Finland, Handelsbanken's branch business includes 27 branch offices as well as head office operations, asset management services, and the finance company Handelsbanken Rahoitus. Handelsbanken Finland also has the investment bank Handelsbanken Capital Markets, which includes the life insurance company Handelsbanken Liv as well as risk management, securities trading, and capital market operations. Handelsbanken Capital Markets Operations is responsible for the custody of the securities. Handelsbanken has a total of about 600 employees in Finland. On 19 October 2021, Handelsbanken Group announced the sale of the Bank’s Finnish operations.
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24,000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com