The second-largest payment-processing corporation worldwide, MasterCard, has announced plans to remove first–use PVC plastics from payment cards on its network by 2028.
According to a statement released by the firm, newly produced cards will be made from recycled or bio-sourced plastics such as rPVC, rPET, or PLA [1] – and approved through a certification program.
With the rule change, MasterCard will certify all newly produced cards to evaluate their composition and sustainability claims with a third party to verify the certification.
The process involves imprinting the card with an Eco certification mark once it has been validated.
The decision to phase out plastic cards strengthens the company’s commitment to sustainability and expands consumer access to more sustainable card options for those looking to lessen the environmental impact of their wallets.
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Additionally, it supports the companies’ efforts to provide cutting-edge, digital-only card systems that completely do away with the need for physical card offerings.
“At Mastercard, we are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future,” said Ajay Bhalla, President of Cyber & Intelligence at Mastercard.
“As our customers respond to increased consumer desire to make eco-friendlier choices, we are making a firm commitment to reducing our environmental footprint – for the benefit of people, planet and inclusive growth.”
Since the launch of the MasterCard Sustainable card program in 2018, more than 330 issuers from 80 different countries have joined, and they are collaborating with the largest card manufacturers to switch over 168 million cards on its network to recycled and bio-based materials.
“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, Chief Sustainability Officer for Mastercard.