Mastercard has introduced a new badge that will be used to identify cards made through more sustainable plastics.
According to Mastercard, the cards will be made out of recyclable, recycled, bio-sourced, chlorine-free, degradable or ocean plastics.
The cards were created through the Mastercard Sustainable Materials Directory – a program that was formed last year to help card issuers offer more eco-friendly cards to their customers. Mastercard claims over 100 financial institutions to date offer Mastercard sustainable card programs in over 30 countries.
Mastercard noted cards that carry the sustainable card badge will be verified by an independent certification program that assesses sustainability claims. By using current industry benchmarks, the cards will be certified if they are found to reduce energy and material consumption, carbon footprint and waste.
Alongside the introduction of the new card, Mastercard has revealed it has partnered with Giesecke+Devrient (G+D) to develop a new program to help consumers recycle their cards easier.
The two firms will offer a ‘toolbox’ of recycling solutions that can be enhanced for specific issuer, material and market needs. Mastercard noted this builds on their Green Payments Partnership created in 2018 to cut down first-use PVC plastic in card manufacturing.
Mastercard president of Cyber and Intelligence Ajay Bhalla said, “People want brands to behave in more sustainable and eco-friendly ways. But, making it happen across extended supply chains with multiple partners can be trickier than setting a goal.
“With this sustainable badge, certification and recycling program, we have a real chance to address each of these issues and bring trust to sustainable choice as we collectively move towards a more circular economy.”
G+D VP global head of card products Mikko Kähkönen added, “Our vision for our sustainability offering goes beyond the production of an eco-card. Our purpose is to offer our bank clients the services they need to implement their own sustainability strategy, and also to tackle industry challenges such as the recycling of payment cards.
“A fast-growing number of eco-conscious consumers are demanding from G+D, from banks and from industry leaders such as Mastercard that they collaborate towards such solutions to serve future generations and protect our environment.”
Earlier this year, UK-based digital bank Starling Bank introduced debit cards made of recycled plastic in a bid to boost its sustainability goals.
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