Mastercard's Green Initiative: Introducing a Global Strategy for Payment Card Recycling

Mastercard Inc MA announced the establishment of a global framework for card recycling, including collection, transportation, and recycling.

The company is asking its global network of partners to help put this in place, beginning in the United Kingdom with HSBC Holdings plc HSBC, which recently enabled card recycling at select branches.

Under this strategy, Cardholders can drop off expired payment cards into secure, dedicated collection boxes within bank branches.

The shredded waste is subsequently delivered to our recycling partner. For the United Kingdom, this is TerraCycle, which has been tackling difficult-to-recycle products for more than 20 years. The shredded card waste is then separated, and the plastic is reformed into pellets and powders for reuse in other products.

“We’re calling on all card issuers to take the next step by working with us to provide recycling for existing first-use plastic cards. We can provide our expertise and connect them with our recycling partner to organize programs of their own, maximizing impact with minimal cost and effort,” stated Ajay Bhalla, president of cyber and intelligence at Mastercard.

Price Action: MA shares traded lower by 0.17% at $374.00 premarket on the last check Wednesday.

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