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As the first in the industry to promise the elimination of virgin plastic in payment cards by 2030 at the latest, Giesecke+Devrient (G+D) is leading the way in promoting sustainability in the payment card industry. With Mastercard announcing its Pledge 2028 the two industry leaders express their shared vision of more sustainable payments. Based on these partnerships, the industry can expect to see continued progress toward a more circular and eco-friendly payment landscape.
With more than 3 billion chip payment cards being produced each year, most of the payment cards are made with virgin PVC. Already in 2021, G+D started to help card issuers develop a truly eco-conscious payment card strategy, with a unique offering of eco-innovative payment products, services and partnerships. G+D launched its Convego Beyond eco-card portfolio offering cards made of 100% recycled or compostable materials. While sustainable payments goes beyond a piece of payment card, this card has been seen by both the banks and end-customers as an entry point to a more sustainable journey. The provision of eco-cards made of 100% the same type of recycled or bio-compostable plastics provides banks with the possibility to repurpose their bank cards with an end-of-life recycling program, corresponding to a more circular economy.
Partnership is the key to authentic eco-payment solutions
Strong partners extend this ecosystem to include valuable climate protection services. For example, with G+D partner Doconomy, so the customers of a bank can measure their own carbon footprint and take actions to adjust their environmental impact. Access to Patch, a leading carbon credit digital marketplace, enables consumers to further manage and neutralize their carbon footprint. This makes the entire lifecycle of payment cards more environmentally friendly and more attractive for environmentally-conscious customers. It demonstrates G+D’s commitment to reducing plastic waste, promoting sustainability and wave for greater attention from society on environmental topics. To further tackle the environmental challenges and urge other players to join the suits, G+D has committed to ending the use of virgin plastic in all payment card bodies, at the latest by 2030. The flagship initiative is a supporting element of G+D’s comprehensive ESG (Environment, Social, Governance) strategy, which aims to make the company’s entire offering more environmentally and socially sustainable.
Joining forces for more sustainable payment solutions
Collaboration is critical to achieving sustainability goals, and G+D and Mastercard are leading the way in promoting a more sustainable payment landscape. G+D has been closely supporting and partnering with Mastercard to launch the Mastercard eco-badges to enable greater transparency and encourage the shift from virgin PVCs to more sustainable alternatives for payment cards. G+D’s Convego Recycled card product was issued the first such certicate. Both partners intensively collaborate to explore new sustainable materials, establish eco-innovative partnerships and construct better end-of-life card recycling programs, that can be optimized for specific issuers, market and material needs. These activities build on the Greener Payments Partnership (GPP) formed in 2018 to make payments more sustainable and to support banks in the pathway of building a truly circular economy.
Mastercard recently announced its Pledge 2028, which commits to eliminating the use of virgin plastics in payment card bodies for new cards from January 1st, 2028. This initiative is a significant step towards achieving greater sustainability in the payment card industry.
Paving the way for a more sustainable payment ecosystem
Mastercard and G+D’s initiatives complement each other in the goal of eliminating virgin plastic from payment cards and creating a more sustainable payment landscape through their pledges. With G+D as a reliable, ecologically innovative partner supporting along the way, its associated banks and financial service providers can implement their own sustainability card programs and reach the growing number of ecologically sensitive customers. As industry leaders, G+D and Mastercard urge other payment card providers and banks to join the eco-friendly movement and help drive real changes across the industry.
By Mikko Kähkönen, Head of Payment Cards Portfolio, Giesecke + Devrient
