In APAC alone, 90 issuers across 15 markets have already joined Mastercard’s Sustainable Card Programme. — Photo courtesy of the company
Mastercard on May 9 announced it is accelerating efforts to remove first–use PVC plastics from payment cards on its network by 2028.
This initiative further reinforces the company’s sustainability commitments and scales the accessibility of more sustainable card offerings for consumers seeking a way to reduce the environmental impact of their wallets.
In an unprecedented move for a payment network, from January 1, 2028, all newly–produced Mastercard plastic payment cards will be made from more sustainable materials – including recycled or bio-sourced plastics such as rPVC, rPET, or PLA - and approved through a certification program. The company will support its global issuing partners through the transition away from virgin PVC.
“The world has a plastic problem. Solving it will be a whole-of-society task, yet efforts are often taken in isolation or without coordination,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. "With this sustainable cards effort, Mastercard is bringing its global network of banks, financial institutions and consumers – who collectively hold more than 3 billion Mastercard cards – together to build a greener payments sector through collaboration and partnership.”
Mastercard launched its Sustainable Card Programme in 2018. Since then, over 330 issuers across 80 countries have voluntarily signed up, including 90 issuers in 15 markets across the Asia Pacific region. Mastercard has been working in partnership with major card manufacturers to transition more than 168 million cards across its network, including 31 million in the Asia Pacific region, to recycled and bio-based materials. This new announcement accelerates these efforts, while complementing the company’s work to deliver digital-first card programmes that fully eliminate the need for a physical card.
The rule change will also see all newly made cards certified by Mastercard to assess their composition and sustainability claims; this certification will then be validated by an independent third-party auditor. Once a card has been validated it can be imprinted with a Card Eco Certification mark. — VNS