Banca Transilvania SA

07/29/2021 | Press release | Distributed by Public on 07/29/2021 03:28

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

Comunicat de presa2021-07-29

  • The first environmentally friendly card in Romania is the Visa Classic debit card, issued by BT and produced by IDEMIA.
  • The Transformation of the Visa Classic card portfolio into an eco-friendly one means reducing the carbon footprint by 36%.
  • BT aims that by 2022, all newly issued cards are eco-friendly.
  • By 2025, almost the entire BT cards portfolio will be made of recycled plastic and biodegradable elements.

From now on, Banca Transilvania has on 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, produced in collaboration with IDEMIA, a global leader in augmented identity and in the innovative payment technologies industry. On a first stage, the new cards will be issued in this version, and later they will be the ones reissued following the card's expiration. The new version maintains all the functionalities of the existing card - from access to the current account in RON, to contactless payments.

Banca Transilvania started with Visa Classic the transformation of its cards' 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, in order to protect the environment and reduce the consumption, BT will replace the existing cards with recycled plastic versions as they expire, and not before this time.

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

'We are happy to mark a new premiere on the market. By transforming 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; however, we are happy to have at Banca Transilvania the physical format of the card in an eco-friendly way, during the transition to a 100% digital environment. It is an essential step for us, as leaders of the cards market, in supporting the implementation of the circular economy, starting with the largest cards' portfolio, Visa Classic ', declares Oana IlaƟ. Executive Manager 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. Migrating 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 our world's most pressing problems.', states Tomas Kovarik, vice-president CEE & CIS, Financial Institutions, IDEMIA.

IDEMIA's GREENPAY solutions enables the responsible use of resources and aims to reduce the use of PVC plastic in card manufacturing, minimizing the impact on the environment and the level of pollution.

Through remote banking for individuals and companies, Banca Transilvania offers a series of alternative green payments solutions, through which it contributes to the financial inclusion of the 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 cards market leader, with a market share of approximately 23%.