Fintech & Ecommerce

Citi will use recycled plastic for corporate cards

The rollout will start in the EMEA region, before being distributed globally

Citi recycled

Citi will use recycled plastic for corporate cards. Source: depositphotos.com

Citi has introduced Recycled PVC (rPVC) for its corporate cards.

The rPVC cards will be produced from recycled industrial plastic material that typically comes from industries such as printing and packaging.

The cards will go through an open-loop recycling process, meaning old products are transformed into new products delivering a significant benefit in the reduction of industrial plastic waste.

Every rPVC card will be made with 85% recycled industrial waste per finished card and represents a reduction in CO2 emissions during the card manufacturing process, delivering a reduction of 36% CO2 emissions in comparison to a standard PVC card.

Furthermore, to ensure that no unnecessary wastage occurs by replacing original cards that have not yet expired, the rollout will commence in EMEA in April 2022 and will be introduced globally in a phased manner.

The new Mastercard Citi cards will feature the Mastercard Sustainable Card Badge, which identifies cards that are made more sustainably and that meaningfully reduce energy consumption, material consumption, carbon footprint and waste. The badge serves as an everyday reminder of the commitments made to address sustainability concerns.

We are helping banks like Citi offer more eco-friendly cards to their customers – put simply, it’s better for the environment and it’s better for business. By partnering on sustainable cards, we’re building on our longstanding relationship of working together to solve the needs of our shared customers. We invite more organizations to join us, as we collectively use our power for good to address these pressing environmental challenges
Ajay Bhalla, President of Cyber & Intelligence for Mastercard

More sustainable use of the world’s natural resources is a critical step in the global transition to a low-carbon economy. Citi’s decision to use rPVC for their corporate cards will help individuals and businesses alike to reduce their environmental footprint. It’s every little action like this one — making sustainability central to our decisions — that boosts us on our path to net zero. We’re delighted to work with Citi and all our partners to make better use of the world’s resources. It makes for better products, smarter finance and a brighter future for everyone
Stephen King, Vice President Sustainability Solutions, Visa Europe

We’ve reported that US digital bank introduced payments ring.

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