In New York, Mastercard, Gemalto, Giesecke+Devrient and IDEMIA joined together to commit to more sustainable credit cards by launching the Greener Payments Partnership to establish environmental best practices and reduce first-use PVC plastic in card manufacturing. Research and analysis into recyclable, bio-sourced and bio-degradable materials is already underway and now included in this remit. The partnership commits to accelerating that research with the goal of delivering globally available solutions to reduce first-use PVC plastic in card manufacturing in a matter of years.
The group will also ensure best practices around how materials are evaluated, including environmental impact benefits and the ability to meet increasing consumer concerns around the impact of plastic globally. Roughly six billion plastic payment cards are made each year, according to The Nilson Report.