MasterCard and card manufacturers IDEMIA, Gemalto and Giesecke+Devrient have launched the Greener Payments Partnership in order to establish environmental best practices and reduce first-use PVC plastic in card manufacturing. This new effort is the next logical step as part of the earlier strategy of donations in favour of the environment.
Roughly 6 billion plastic payment cards are made each year, according to the Nilson Report. Though a study by MasterCard shows that this is less than 0.015% of the volume of annual plastic production, the use of alternative materials provides an excellent opportunity for improvement while supporting sustainable development.
While research is already in progress on recyclable, bio-sourced and biodegradable materials, the partnership has committed to accelerating this development so as to deliver globally available solutions that are intended to very quickly reduce first-use PVC plastic in card manufacturing.
It’s no secret that we all need to change the way we live and consume in order to reduce our impact on the planet. For IDEMIA, it’s essential as an industrial leader to provide an example and to make every effort to reduce, for instance, our reliance on plastic. We’re happy to partner with MasterCard so as to deliver viable and environmentally friendly alternatives that bring positive change to the industry as a whole.
Consumers are increasingly moving from cash to cards in search of greater security and sustainability. This partnership will help us and our industry to reduce first-use plastic in cards.