By Colin Kellaher

Visa Inc. and CPI Card Group Inc. on Tuesday introduced the Earthwise High Content Card, which is made with up to 98% upcycled plastic for a more sustainably produced card.

The companies said they have signed an exclusive agreement to provide all Visa-issuing financial institutions worldwide access to the Earthwise card, which is EMV compliant and dual interface capable, enabling both contact and contactless payment.

CPI Card Group, a Littleton, Colo., payment-technology company, created the Earthwise card to help reduce first-use plastic in payment cards and reduce plastic waste.

Write to Colin Kellaher at colin.kellaher@wsj.com