OTP testing Hungary's 1st recycled plastic bank card

Banking

Tupungato/Shutterstock.com

OTP Bank announced launching the trial period of an environmentally friendly bank card made of 85.5% recycled plastic, according to a press release sent to the Budapest Business Journal.

The new card is available for the first time to junior customers (aged 14-24) until September 30. With this initiative, OTP wants to contribute to reducing environmental impact and waste, the bank says.

According to data by the National Bank of Hungary (MNB), at the end of the first quarter of 2021, the number of payment cards in circulation was more than 9.8 million, which represents nearly 49 tonnes of plastic, as a bank card contains approximately 5 grams of plastic. 

The bank says that it is confident that the recycled plastic bank cards will be well received during the trial period, as in the longer term, the wider introduction of environmentally friendly plastic cards, alongside the digitalization of bank cards, could be a forward-looking solution from a sustainability perspective.

"As one of Hungary's leading retail credit institutions, we are proud to be the first in the country to issue recycled plastic bank cards. We hope that after the trial period we can make this payment instrument widely available and that we will see more similar initiatives in the coming years. We believe that by taking responsibility and leading by example, we also create many opportunities in everyday life, and we want to pass on this message to our youngest customers. According to our experience, this age group is the most open to innovations and they are the ones who are at the forefront of card usage," said Dávid Kökény, senior manager, banking product development, at OTP Bank. 

ADVERTISEMENT

Budapest Named 5th Best City in Europe for Bargain Lovers Analysis

Budapest Named 5th Best City in Europe for Bargain Lovers

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.