First Indian Bank to launch eco-friendly debit card that comes with rewards for cardholders
NEW DELHI, Aug. 9, 2023 -- Airtel Payments Bank, India's only profitable multi-segment fintech operating at scale with a banking license, becomes the first Indian Bank to launch eco-friendly debit card for its new and existing customers with a savings bank account. The launch comes in alignment with the Bank's commitment to sustainability and promoting eco-friendly practices within the financial sector.
The debit cards will come in r-PVC material, a certified eco-friendly material. With adoption of this eco-friendly material, Airtel Payments Bank will make a significant impact on environmental preservation. Every batch of 50,000 cards produced, will lead to a substantial reduction of 350 kgs of carbon emissions compared to the conventional PVC cards commonly used in the market. Moreover, the r-PVC cards' production will result in a 43% decrease of hydrocarbon usage, effectively reducing petroleum consumption during manufacturing. The Bank's forward-thinking approach will also contribute to water conservation, saving an impressive 6.6 million litres of water per batch of r-PVC cards. This significant conservation of resources highlights the Bank's commitment to sustainable practices and its dedication to mitigating environmental impact.
Airtel Payments Bank is coming up with two cards under Classic variant – Personalised Classic Card and Insta Classic Card. Customers can order the Personalised Card from the Airtel Thanks app, while the Insta Card will be available at select neighbourhood banking points by close of the current quarter. The cards come with rewards including e-commerce benefits of up to INR 10,000, and free One Dines across major cities of India.
Speaking about the launch, Ganesh Ananthanarayanan, Chief Operating Officer of Airtel Payments Bank said, "We are delighted to introduce our new eco-friendly Debit Cards, made using recycled PVC. Airtel Payments Bank believes in responsible consumption and production for a sustainable future. These cards demonstrate our support for sustainability and commitment to offer safe and convenient banking experience. Our aim is to provide India with accessible and inclusive banking by driving positive change in the financial industry and offering our customers a seamless and secure payment experience."
The Bank will soon be coming with more cards in eco-friendly material.
About Airtel Payments Bank Ltd.:
Airtel Payments Bank, India's only profitable multi-segment fintech operating at scale with a banking license, offers a diverse range of safe, simple, and rewarding banking solutions through a strong network of 500,000 banking points spread across the country and its digital platforms. The Bank has also built a robust digital payments ecosystem across the country. Airtel Payments Bank is focused on contributing to the Government's vision of Digital India and Financial Inclusion by taking digital banking services to the doorstep of every Indian.
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