First-of-its-kind initiative.
Gemalto and Byblos Bank, one of Lebanon’s top three banks, have joined forces to launch the Middle East‘s first bio-sourced EMV payment cards in Lebanon.
This initiative is the first-of-its-kind in the region, and as a result of Byblos Bank’s investment for a green and sustainable environment in Lebanon. Working with Gemalto’s local partner Unilux Cards, Byblos Bank plans to migrate 80% of its entire banking card portfolio to Gemalto’s Clarista bio-sourced payment cards within the next three years.
The new cards will be replacing the conventional plastic card body with renewable materials that are easily recyclable and compostable. The bank has already started offering the Clarista bio-sourced cards as a standard to all new cardholders, and will be steadily switching the existing Byblos Bank debit, credit and prepaid cards to the bio-sourced alternative, as they become due for renewal.
Holders of the new bio-sourced cards will be automatically enrolled in the Bank’s existing Card Loyalty Program, which offers a wide range of rewards such as travel points or miles.
The Gemalto EMV payment card uses renewable materials and is authorized by MasterCard and Visa.
“In deploying these bio-sourced products, not only do we show our deep-rooted commitment for a sustainable and green environment, but we underline Byblos Bank’s strategic vision in evaluating and managing the environmental impact of every policy, product or initiative that it take.” said Gilbert Zouein, Assistant General Manager and Head of Group Products, Segments and Marketing at Byblos Bank Group.
“Consumers’ needs continue to evolve. They now want environmentally friendly products in every part of their life including banking. This ground-breaking project, a first in the Middle East, clearly positions Byblos Bank as a pioneer.” said Emmanuel Payraud, Vice President of Secure Transactions for the Middle East at Gemalto.
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