It is expected that in mere five years, most of the payment cards issued by global payment providers will be made of sustainable materials such as recycled or bio-sourced PVC, recycled metal, and sustainably sourced wood.

A recent study by Juniper Research revealed that by 2029, 90% of payment cards worldwide will be made from sustainable materials, driven by increased demand for eco-friendly solutions and regulatory support.

Some examples of sustainable materials typically used for debit and credit bank cards today are recycled PVC (polyvinyl chloride), bio-sourced PVC, recycled metal, and sustainably sourced wood. Some more unusual choices for eco-friendly payment cards include metal, recycled wood, upcycled recovered plastic waste found in the oceans, and a plastic substitute called polylactic acid (PLA), created from renewable sources such as plant leaves and corn.

The research notes that implementing card recycling programs will be critical in transitioning to more eco-friendly solutions. Keeping cards out of landfills will help card manufacturers further advance their environmental goals while they create products that resonate with environmentally conscious customers. These programs also allow progress toward ESG targets, independent of current card materials and manufacturing practices.

At the same time, implementing card recycling across various regions poses a challenge for issuers, especially as bank branches close and digital-only banks expand. Establishing accessible recycling points will likely depend on partnerships with existing collection networks.

“Only by working with third-party networks, such as retail locations and post offices, will card issuers be able to reach their customers with effective recycling options. Even so, the critical challenge will be to convince customers to trust card recycling, given cards feature highly sensitive information. This will require stringent security measures, as well as customer education to make a significant difference”.

Research author Nick Maynard

The global shift to sustainable payment cards could reduce plastic waste and carbon emissions significantly as traditional PVC cards, which create 5.7 million tonnes of plastic waste every year and take up to 500 years to decompose, are replaced with recyclable, biodegradable or reusable materials.

The transition to sustainable materials is happening on a global scale, with the efforts of both small fintech startups and industry leaders. For instance, Mastercard has pledged to remove the first–use PVC plastics from payment cards on its network by 2028. Several banks like Bank of America, Banco Santander, and HSBC UK also introduced initiatives to make their payment cards more sustainable.