The move aims to further back up the company’s commitment towards sustainability and scale the accessibility of more eco-friendly card offerings for consumers who are looking to positively impact the environment through green wallets and initiatives.
Starting 1 January 2028, all new Mastercard plastic payment cards will be replaced with those made of more sustainable materials, including recycled and bio-sourced plastics such as rPVC, rPET, and PLA. At the same time, the cards will also be a approved through a certification programme, marking the first initiative of its kind from a payment network. Moreover, Mastercard has pledged to support all its global issuing partners through the transition from regular PVC to eco-friendlier materials.
The US-based card scheme has launched its sustainable Card Program back in 2018 and, since then, more than 330 issuers from 80 countries across the globe have signed up. The ultimate goal was to replace over 168 million cards across the network with recycled ones and the latest news from April 2023 reassures that these efforts will continue.
Simultaneously, Mastercard will continue investing in innovative technologies that will push further the world of physical cards towards digital-first programmes that fully eliminate the need of a physical card when shopping online or in-store.
The payments processor works closely with a set of partners to come up with new environmental innovations and initiatives for a smaller carbon footprint, including Priceless Planet Coalition, Carbon Calculator, and the Sustainable Card. Through its latest policies, it is committed to advancing climate action and reducing waste, according to company officials.
In 2018, through its Digital Security Card, Mastercard launched the Greener Payments Partnership with several card manufacturers, including Idemia, Gemalto, and Giesecke+Devrient to reduce the use of first-use PVC plastic in card manufacturing. In 2021, the company also launched the Mastercard Card Eco Certification (CEC), with a similar purpose.
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