Finance Breaking news Mastercard launches sustainable card programme last financial news
Breaking-Finance.Com - Mastercard is launching a sustainable card programme to get its card issuers to switch to greener alternatives such as recycled, biodegradable and ocean plastics.
Breaking-Finance.Com - Mastercard is launching a sustainable card programme to get its card issuers to switch to greener alternatives such as recycled, biodegradable and ocean plastics. Around six billion payment cards are produced each year - most of them made from non-biodegradable plastics such as PVC (polyvinyl chloride). Replaced every 3-4 years, these cards then collectively contribute around 5.7m tons of excess plastic in landfill around the world. Mastercard initiated a Green Payments Partnership (GPP) in 2018 to help the payments industry reduce its reliance on first-use PVC plastic in card manufacturing.
. In the latest advance, Mastercard has created a directory of sustainable card materials including information on where to source them, to help banks and other card issuers make the transition. Mastercard’s Global DigiSec Lab in the UK is behind the science and research into the material makeup of a card to assess environmental claims on behalf of the industry.The switch to sustainable plastics was given a further boost last month, when Visa announced plans roll out cards made from recycled materials to all financial institutions globally. The card scheme has collaborated with CPI Card group to produce the 'Earthwise High Content Card', which is made with up to 98% upcycled plastic.
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