MasterCard enters partnership with Gemalto, Giesecke+Devrient and IDEMIA
Mastercard and card manufacturers Gemalto, Giesecke+Devrient and IDEMIA launched the Greener Payments Partnership to establish environmental best practices and reduce first-use PVC plastic in card manufacturing. Roughly six billion plastic payment cards are made each year, according to The Nilson Report. While Mastercard analysis shows that this is less than 0.015 percent of the volume of plastic manufactured each year, there is room to improve that through the use of alternative materials. 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.