The Drive for Sustainability in the Payment Card Market

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By Sam Gazeley | 4Q 2020 | IN-6001

 

The Rise of Corporate Social Responibility in the Payments Card Market

NEWS


As the smart card market becomes increasingly aware of the usage of first-use PVC, the major ecosystem players are looking for the optimal materials and technologies which are sustainable and enable them to pivot away from non-biodegradable plastics. While sustainable materials have been explored as substrates in the payment card market for a number of years, they have so far failed to gain traction and transition to a mainstay for card issuers. Now, with an increased awareness of the global ecological situation and a growing eco-conscious consumer base, the smart card market (and major ecosystem players) are looking to make sustainable substrates and practices a mainstay.

However, it is important to consider that next-generation smart cards will need to be looked at from a marketing perspective as well as the manufacturing and personalization process. This includes how the substrates are sourced, collected, manufactured into raw resources, transported, and personalized right across the value chain. As such, sustainability in the smart…

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