Singapore’s Trust Bank Partners with Thales to Launch Eco-Friendly Ocean Plastic® Payment Card

Singapore’s Trust Bank Partners with Thales to Launch Eco-Friendly Ocean Plastic® Payment Card

(IN BRIEF) Trust, Singapore’s first digitally-native bank, has achieved rapid growth since its launch in September 2022, with over 600,000 customers within one year, making it one of the world’s fastest-growing digital banks. In its commitment to environmental sustainability, Trust has collaborated with Thales to introduce Singapore’s first Ocean Plastic® payment card. This eco-friendly card is composed of 70% Ocean Plastic® from Parley of the Oceans and is designed for environmentally-conscious consumers. Thales manufactures these cards using PET plastic recovered from coastal areas, with each card equivalent to approximately one discarded bottle, helping reduce ocean pollution. The cards are produced at Thales’ Digital Identity & Security Manufacturing Competence Centre in Singapore, adhering to green manufacturing standards such as ISO 14001 and 50001. Trust aims to continue pioneering sustainable solutions in line with its “Build to Sustain” core value, while Thales supports their efforts to provide customers with eco-friendly payment options and seamless payment experiences.

(PRESS RELEASE) PARIS, 13-Dec-2023 — /EuropaWire/ — Trust launched on 1 September 2022 as Singapore’s first digitally-native bank. In September 2023, Trust passed its one year mark with over 600,000 customers, becoming one of the fastest growing digital banks in the world. With the goal of minimising its impact on the environment, Trust is collaborating with Thales to offer the first Ocean Plastic® payment card in Singapore to their customers.

Built for a diverse customer base including environmentally-conscious consumers, the card consists of 70% Ocean Plastic® from Parley of the Oceans2 , making it one of the most eco-friendly cards available on the market.

Thales Ocean Plastic® payment cards are manufactured from PET (a type of plastic used in products such as single-use bottles) recovered from coastal areas. Each card contains the equivalent of approximately one discarded bottle that would otherwise threaten vulnerable ocean environments.

The cards are manufactured using Thales’ industry-leading technology at the Digital Identity & Security (DIS) Manufacturing Competence Centre in Singapore, the largest multi-module manufacturing facility for the Thales Group worldwide. The cards are also fully-certified by payment schemes, complying with green manufacturing processes including the ISO 14001 and 50001 certification standards2. Thales’ processes ensure that the card’s environmental impact is minimised at every stage, from resource consumption and emissions during manufacturing to waste and end-of-life-disposal.

“With Thales’ sustainable innovations in banking cards, we are delighted to collaboratively bring to life the first Ocean Plastic® Payment card in Singapore. As a digital bank with a core value of ‘Build to Sustain,’ we hope to continue pioneering more sustainable solutions that reduce our environmental footprint,” said Hasan Khan, Head of Credit Card & Lending, Trust Bank.

“Thales is proud to support Trust as they provide their customers a sustainable payment card. Coupled with Thales’ contactless banking technology and cybersecurity, the cards offer a seamless payment experience to consumers, while helping Trust contribute towards cleaner oceans. We look forward to further collaboration with them in the coming years,”
said Nassir GHROUS, Vice President, Thales Banking and Payment Services, Asia Pacific, Middle East and Africa.

1 The Singapore Green Plan 2030 is a nationwide movement to advance Singapore’s national agenda on sustainable development. Similarly, the Monetary Authority of Singapore’s vision is for the country to be a leading centre for sustainable finance in Asia. Banks in Singapore have steadily been adopting green practices as part of their everyday operations.

2 Parley for the Oceans’ is the global network where creators, thinkers and leaders come together to raise awareness for the beauty and fragility of the oceans and collaborate on projects that can end their destruction.

3 ISO 14001 deals with resource consumption, waste management and pollution while ISO 50001 is interested in reducing energy consumption.

Media Contacts:

Vanessa Viala
Digital Identity & Security Press Officer
+33 6 07 34 00 34
vanessa.viala@thalesgroup.com

Jamie CHOW
Communications, Asia
+65 93 69 53 43
jamie.chow@thalesgroup.com

SOURCE: Thales