Consumer Attitudes Shift Further Towards Sustainability in the Payment Cards Market

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By Sam Gazeley | 1Q 2022 | IN-6436

 

COVID and COP26 Pressures on the Payments Industry

NEWS


Sustainable and environmentally friendly smart card materials have been present in the market for a considerable number of years without gaining permanent and significant traction. 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.

Primarily focused within the payments and banking market, sustainable and alternative substrates to PVC open a number of opportunities for the major ecosystem players. It provides banks with a way to offer alternative materials that appeal to end users, who are conscious of the environmental impact of the cards they carry and demonstrates a bank’s or financial institution’s willingness to take seriously their role of corporate responsibility. End users can sport a payment card that is made of a sustainable material, such as PLA (polylactic acid) or reclaimed ocean plastic and be seen as involved in preserving the global ecosystem. For smart card pers…

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