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Mastercard launches new sustainable payment cards

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Η Mastercard λα νσΕρει νΕες βιΕσιμες κΕρτες πληρω μoν

The Mastercardannounced that it is accelerating efforts to remove PVC plastics from its network payment cards by 2028.

This move further reinforces the company's sustainability commitments, offering consumers who wish to reduce their environmental footprint by choosing a more environmentally friendly card.

From January 1, 2028, all new Mastercard payment cards produced will be made from sustainable materials – including recycled or bio-based plastics such as rPVC, rPET or PLA1 – and will be approved through a certification program. At the same time, the company stands by its partners throughout the transition to a more ecological and sustainable everyday life.

Mastercard launched the Sustainable Card Program in 2018. Since then, more than 330 issuers in 80 countries worldwide have joined this initiative, working with major card manufacturers to convert over 168 million cards across Mastercard's network into ecological from recycled and organic materials. This announcement further accelerates those efforts, while also praising the company's work to provide innovative, digital card programs that completely eliminate the need for a physical card.

As part of the transition, Mastercard will assess and certify all newly created cards for their composition and viability. This certification will be validated by an independent third-party auditor, and the validated cards will then receive the Card Eco certification mark.

For more than a decade, Mastercard has integrated sustainability into its strategy, emphasizing financial inclusion, data protection and the environment. At the same time, through its network, it has developed global partnerships with the aim of creating new environmental innovations and initiatives in the market, such as the Priceless Planet Coalition, the Carbon Calculator as well as the Sustainable Card.

In addition, in 2018, through Mastercard's Digital Security Lab, the company launched the Greener Payments Partnership with card manufacturers Gemalto, Giesecke+Devrient and IDEMIA to reduce the use of PVC plastic in card manufacturing. Partner banks cover more than 80 different countries around the world, while in 2021, Mastercard launched the Mastercard Card Eco-Certification (“CEC”) system.

Ajay Bhalla, President Cyber ​​& Intelligence at Mastercard said: “At Mastercard we are leading and shaping our industry's collective pursuit of a more sustainable, more environmentally conscious future. As our customers respond to consumers' increased desire to make greener choices, we are firmly committed to reducing our environmental footprint – for the benefit of people, the planet and inclusive development.”

Ellen Jackowski, Chief Sustainability Officer of /strong>Mastercard added: “Mastercard is committed to continuing its environmental actions and waste reduction, moving towards zero carbon emissions and leveraging its network for the fastest transition to a low carbon economy”.

Source: eurokerdos.cyprustimes.com

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