Mastercard has announced that it will require all newly produced plastic payment cards to be made from sustainable materials starting January 1, 2028.
The move comes as the company seeks to reinforce its sustainability commitments and make more sustainable card options accessible to consumers who want to reduce the environmental impact of their wallets.
The company has stated that it will only use recycled or bio-sourced plastics such as rPVC, rPET, or PLA in the production of its cards. Additionally, these cards will be approved through a certification program, marking the first time a payment network has made such a move.
Mastercard plans to support its global issuing partners through the transition away from virgin PVC, which is not environmentally friendly.
The President of Cyber and Intelligence at Mastercard, Ajay Bhalla, said that the company is leading the industry’s pursuit of a more sustainable and environmentally conscious future.
Mastercard launched its Sustainable Card Program in 2018, with over 330 issuers across 80 countries signing up since then.
The company’s Chief Sustainability Officer, Ellen Jackowski, said that Mastercard is committed to reducing waste and advancing climate action by driving its business towards net-zero emissions and accelerating the transition to a low-carbon, regenerative economy.
As more and more consumers demand eco-friendly products, companies across industries are responding by making sustainability a priority.
Mastercard’s move to use sustainable materials in its payment cards is a step in the right direction towards a more sustainable future.