CaixaBank extends the validity period of the entity's cards from five to seven years, an initiative to enhance their sustainability and reinforce the recycling circuits for expired cards. More than 80% of its new cards are already issued with seven years of validity.
According to the bank, those seven years is the estimated period of operation of the electronic components of the cards with current technology if they are in perfect condition.
On the other hand, it has completed the extension to its entire branch network of the technology and processes necessary to ensure the receipt and proper treatment of expired cards. Since 2022, it has recycled material corresponding to more than eight million cards that customers have delivered to the branches.
The company has set itself a strategic objective of promoting the use of digital cards through mobile payment in order to reduce the production of physical cards and, consequently, have a lower environmental impact. Currently 25% of purchases are made through mobile payment and the goal is to double this figure in the next three years.
The initiative adds to the one started in 2021 to replace plastic with recycled materials on their cards. Virtually all of the new CaixaBank cards are issued using recycled plastic or biodegradable material, a total of 20.86 million of these are already circulating in Spain.
The measure, apart from being more sustainable, also provides greater convenience to customers by having to renew it less frequently.
