Here at Kroo, we believe that banking can be a force for social good. We at Kroo know we’re not an island when it comes to our impact on the planet. As a society, we must continue to make strides to become more sustainable and Kroo is committed to playing its part. In the UK alone there were 155 million cards in circulation in April 2021*, most will likely be lost, find their way to the bin or worse end their life as litter.
That’s why, from this month, every card sent out by Kroo will be a new biodegradable Kroo Eco card.
What are Kroo’s new Eco cards?
Kroo’s Eco card has a rigid film produced with an additive making it biodegradable. Unlike most traditional bank cards, they can also be easily recycled.
How are they biodegradable?
- If you leave your Kroo Eco card in organic compost, it will degrade over time. The additive applied to the card accelerates the degradation process in environments where microorganisms and bacteria live.
- These microbes are attracted to the card, allowing them to live on the surface where they release acids which will break down the plastic over time.
How long does the plastic take to break down?
- The plastic will degrade around 10% every 45 days. Use organic compost to accelerate the process.
- To put this into context, a plastic bag can take 20 years to degrade and a plastic water bottle 450 years.**
- Don’t worry, your card won’t degrade as you carry it around with you and is just as robust as normal bank cards.
What happens to the chip?
- All of the non-plastic components such as the chip, inks, magstripe, inlay, and antenna will not degrade. This is a limitation right now but we are working with our partners to ensure that in the future every part of our card is eco friendly by being biodegradable or recyclable.
Can the cards be recycled?
- Kroo Eco card plastic can also be recycled as an alternative to being biodegradable.
What else is Kroo doing to be sustainable?
Kroo Eco cards are not the beginning or the end. Kroo has launched a tree-planting referral scheme, so that every time a customer refers a friend who opens an account, Kroo will plant 20 trees in their honour. We have set ourselves our first milestone to plant 1 million trees, and with your help, we can achieve this and then onto the next million.
Kroo also has pledged to donate a percentage of profits to social causes, once we’ve become profitable. We are also working on ideas as to how our community can help to get involved, so watch this space.
Tom Robinson, Head of Product