A new study from Juniper Research has found that over 90% of all payment cards shipped globally by 2029 will feature sustainable materials, from just under 40% in 2024. Sustainable payment card materials include recycled PVC (polyvinyl chloride), bio-sourced PVC, recycled metal, and sustainably sourced wood.
The study urges card manufacturers to focus on enabling card issuers to transition their cards to more environmentally friendly solutions. Issuers must create products that resonate with environmentally conscious customers, improving customer retention and acquisition, while boosting their Environmental, Social & Governance (ESG) credentials.
Card Recycling Requires New Approaches
The research identified the implementation of card recycling schemes that help to ensure cards do not end up in landfill will be a key strategy over the next four years. This will enable card manufacturers to truly maximise their progress towards ESG targets, regardless of current card-manufacturing processes and materials.
However, the research also found card issuers face a challenging task in rolling out card recycling across diverse geographic locations. With bank branches closing and digital-only issuers growing in strength, finding suitable physical locations for recycling points will require partnerships with collection networks.
Research author Nick Maynard explained: „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”.
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Find out more about the new report: Global Payment Card Technologies Market 2024-2029, or download a free sample.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
