Branded payments provider Blackhawk Network (BHN) has announced a partnership with Visa to launch its global environmental sustainability initiative.
Based on the press release, beginning this autumn, Visa open-loop prepaid cards supplied by BHN to third-party retail networks are set to be transitioned from plastic to sustainable paper-based materials.
As part of its ongoing initiatives to positively impact the environment worldwide, Blackhawk Network is collaborating with Visa to transition its network-branded prepaid products distributed by third-party retail networks from plastic to paper-based materials. The initiative is set to roll out in the US, Canada, and Australia later in 2023, and converting to sustainable materials could potentially impact more than 350 million open loop and multi-branded products produced by BHN and up to another 700 million third-party cards, as BHN aims to get almost all content converted to sustainable materials.
The change to more eco-friendly products benefits the planet with minimal disruption to merchants, issuers, brands, and consumers, as paper-based products still provide the convenience and reliability of shopping where Visa is accepted.
From 2017 onwards, BHN has offered a range of eco-friendly, paper-based, and recycled products, and support by global networks like Visa, it is set to expand its efforts on an expedited and larger scale. The partnership delivers on BHN’s 2022 commitment to convert most of its products to paper substrates by the end of 2023 and to support its card partners in switching their own plastic products to paper substrates by the end of 2024.
BHN officials stated in the press release that the company’s mission is to further the prepaid and gift card industry’s shift from plastic to increasingly sustainable and responsibly sourced materials, and partnering with brands like Visa helps it create a more sustainable payment card market. Per their statement, due to its vast network, BHN is positioned to enable change by reducing its global footprint and creating a roadmap for others to follow, while doing the appropriate thing for its partners, customers, and the planet.
Adding on this, Visa representatives advised that Visa is committed to operating as a sustainable, responsible business and in addition to its own ongoing initiatives, collaborating with BHN in its sustainability efforts showcases how they can cooperate for a greater collective good. The spokesperson further said that they believe that, alongside partners, they can achieve their goal of being a sustainable commerce engine, including through sustainable payment cards.
In addition to transitioning to paper-based and sustainable card products, BHN is looking to continue innovating with its digital card offerings and help decrease the demand for plastic-based cards, thus having a positive impact on the planet while acting as change symbols that meet the growing preference of consumers for digital payments and rewards, amongst others.
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