Tuesday, 25 June 2024

DBS Taiwan, Thales partner for bio-sourced payment cards in Asia

5 min read

Thales will reissue over two million cards to DBS Taiwan to support the bank’s largest credit card renewal operation.

In 2020, with support from Thales, DBS Taiwan introduced Asia’s first bio-sourced credit card, aiming to raise awareness and encourage the use of environmentally friendly payment products. By 2024, Thales is assisting DBS Taiwan in becoming Asia's foremost issuer of sustainable payment cards.

Through this project, Thales is helping DBS Taiwan revamp its eco card as well as supporting the re-issuance of over two million cards following DBS Taiwan’s acquisition of Citi’s consumer banking business in Taiwan. Working within a tight timeline set by Taiwan’s financial authorities, Thales is helping produce up to 30 card body artworks to support DBS Taiwan’s ambition to become the largest and most environmentally friendly international commercial bank in Taiwan.

More than a million of these cards are crafted from bio-sourced polylactic acid (PLA), aligning with DBS' ambitions to prioritise more eco-friendly products. The remaining selection showcases DBS commitment to innovation with Thales' range of premium metal cards and LED Artlight cards.

Derived from renewable resources such as non-edible corn, the Thales bio-sourced PLA card is one of the most eco-friendly products in the market. The card is the world’s first UL environmental claim validation (ECV) certified eco-friendly payment card, and its bio-based component has been lab tested and accredited by worldwide science safety leader UL. Thales is a worldwide leader in modern and responsible payment solutions; the PLA cards are part of a comprehensive eco-friendly product portfolio, with over 50 million PLA cards already delivered globally.

In addition, there is a forecast of 235 tons of carbon offset from the cooperation with Thales carbon-neutral programme. DBS Taiwan has also embedded the concept of green consumption into card value proposition such as rebate in low-carbon transportation, and cooperated with DBS Foundation to encourage cardholders to enjoy a more sustainable life with the goods and services through championing social entrepreneurship.

Nassir Ghrous, vice president, Thales banking and payment services, Asia Pacific, Middle East and Africa, said: “Thales is honoured to collaborate with DBS Taiwan in their initiatives to offer environmentally and socially impactful solutions to its customers and to be Asia’s sustainable payment solutions leader. As a global pioneer in advanced technology, Thales is also at the forefront of modern card issuance, with an extensive range of solutions that includes cards produced from bio-sourced PLA, ocean-recycled plastic, recycled PVC, and even sustainable wood. We look forward to deepening our partnership with DBS as we build towards a safer, greener and more inclusive future for all.”

Re-disseminated by The Asian Banker

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