Sustainable Payment Cards in Circulation by Type
Source Research:
Innovative Payment Card Materials
Market Data | 28 Sep 2023 | MD-IPCM-23
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As banks aim to further resonate with consumers, they are ramping up their efforts to use sustainable payment card materials that appeal to eco-conscious customers. As pointed out in the blog post, Alternative Card Materials for Sustainable Banking, the payments industry has four primary green materials to choose from:
- Recycled Polyvinyl Chloride (PVC)
- Polyactid Acid (PLA)
- Polyethylene Terephthalate Glycol (PETG)
- Reclaimed/Ocean Bound Plastic
As the forecast above showcases, rPVC is set to be the go-to sustainable material to replace traditional payment cards. By 2028, 2.5 billion rPVC payment cards will be in circulation worldwide.
