Former bank executives have launched a new digital charge card aimed at removing the environmental impact of plastic cards from the world.
Formerly MBNA’s Chief Commercial Officer, Michael Donald is a pioneer in ImageN Pay, the world’s first payment system that allows users to personalize virtual payment cards on their smartphones using images and dynamic content.
ImageNpay has announced a card design with a video clip of wild dolphins gliding over the ocean to facilitate awareness of the damage caused by plastic payment cards.
Michael hopes that traditional card payments will become a relic of the past as people begin to awaken to the environmental impact of plastic cards.
According to data released by Nilson, more than 22 billion plastic payment cards are in circulation worldwide. Payment cards are typically issued every three years, with over 6 billion reissues in 2017 alone, most of which are made of non-recyclable PVC plastic.
“Plastic payment systems are outdated, inefficient, and ecologically damaging,” says Michael.
“It costs about $ 7 to issue a single plastic card, about 5.7 million tonnes are landfilled annually, and it takes decades to break down into microplastics. This plastic pollution causes consumers to emit carbon dioxide. It is unreasonable in the 21st century mobile era, which is becoming more and more aware of quantity.
“The ability to pay with videos and short videos on smartphones is the first major feature in the payment world. We are one of my heroes who have been passionate about taking action to reduce climate change. I decided to use the dolphin as the first video as a homage to the person David Attenborough. “
Michael believes that recent trends suggest that traditional payment cards will eventually be replaced by more environmentally friendly options: “No plastic-no pollution is the future solution.” Insist.
To prove that point, he launched the ImageNPay app, which provisions virtual prepaid mastercards directly to mobile phones that allow them to be used like any other mastercard, but details on non-recyclable plastics. Instead of embossing, store it safely on your mobile phone.
It takes less than 10 minutes to download from the app store, receive your card, select your favorite image and bring it online.
“First and foremost, we set out to create an innovative new friction-free way to pay for something that has no negative impact on the environment and is equally seamless,” says Michael.
“The oceans of the planet are flooded with microplastics, so anything you can do to stop it is worth it. Thankfully, the combination of increased mobile phone payments and environmental issues related to plastics, traditional credit and debit. A card that suggests that the number of days is being counted.
“We often hear about the so-called disappearance of cash, but all recent data suggests that plastic cards really take precedence. Cash still plays an important role in our society and is entirely If it disappears, it can have volatile impacts on some people The most vulnerable members of society, especially those who do not have access to smartphones or the Internet. However, mobile payments will be on par with plastic and cash within 10 years. It is expected that plastic payments will be virtually abolished within another 5-10 years. Years. “
However, Michael states that prepaid charge cards like ImageNPay offer a safe alternative to cash and plastic, all with the same benefits, without harming the environment.
“With ImageNPay, you can only use the amount you decide to prepay to your mobile digital card. Then, if you know that your main bank account is secure, you can trade securely online.”
Early iterations of the ImageNPay app can be downloaded from the Apple Store and used for online trading. Updates are planned for the coming weeks, including the ability to make contactless payments via Apple Pay and Android.
Former MBNA director Michael Donald announces virtual card kit with video
Source link Former MBNA director Michael Donald announces virtual card kit with video