As of January 1, 2028, all newly manufactured plastic payment cards must be made from more environmentally friendly materials, according to a statement from Mastercard.
The business claimed that by taking this action, it would be able to better uphold its sustainability commitments and increase consumer access to more environmentally friendly card options.
This would help consumers lessen the impact that their wallets have on the environment. As a first step toward a payment network, it was stated that cards would only be produced using recycled or bio-sourced plastics, such as rPVC, rPET, or PLA, and would receive certification.
It also said that during the switch away from virgin PVC, it would support its international issuing partners.
According to Mastercard’s President of Cyber and Intelligence, Ajay Bhalla, “At Mastercard, we are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future.
We are firmly committing to reducing our environmental footprint for the benefit of people, the planet, and inclusive growth as our customers respond to increased consumer desire to make more environmentally friendly choices.
“Mastercard is committed to advancing climate action and reducing waste by driving our business toward net zero emissions and leveraging our network and scale to accelerate the transition to a low-carbon, regenerative economy,” said Ellen Jackowski, the company’s chief sustainability officer.
In 2018, the company launched its Sustainable Card Program, and since then, more than 330 issuers in 80 countries have joined.
