Mastercard and HSBC have launched a plastic payment card recycling pilot with TerraCycle in the UK.
As part of the pilot, cardholders can drop off any expired payment cards into collection boxes inside bank branches. The cards are shredded and the build-in chip is destroyed inside the collection box to safeguard against card information being stolen.
In the UK, the shredded waste is then shipped to the pilot’s recycling partner TerraCycle. The shredded card waste is then separated and the plastic reformed into pellets and powders to be reused for other products.
Since 2018, Mastercard says its DigiSec Lab in northern England has been exploring ways to recycle plastic cards and develop more sustainable ones by scrutinising their physical and chemical makeup.
We are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future.
Since 2021, Mastercard says it has issued cards made from approved recycled, recyclable and bio-sourced materials, including recycled ocean plastic or bioplastics made from sugar or corn.
Mastercard also says it is establishing a “blueprint” for card recycling that can be replicated across the world, including collection, transportation and recycling.
Earlier this year, Mastercard announced its “accelerating” efforts to remove first–use, PVC plastics from payment cards on its network by 2028.
From January 1, 2028, Mastercard says that all newly–produced plastic payment cards will be made from more sustainable materials – including recycled or bio-sourced plastics such as rPVC, rPET, or PLA1 – and approved through a certification program.
Mastercard launched its Sustainable Card Program in 2018. Since then, it says over 330 issuers across 80 countries have signed up, working in partnership with major card manufacturers to transition more than 168 million cards across its network to recycled and bio-based materials.
Ajay Bhalla, President of Cyber & Intelligence at Mastercard, commented: “At Mastercard, we are leading and shaping our industry’s collective pursuit of a more sustainable, more environmentally conscious future.
“As our customers respond to increased consumer desire to make more eco-friendly choices, we are making a firm commitment to reducing our environmental footprint – for the benefit of people, planet and inclusive growth.”
