Soaring plastic use has created one of the world’s biggest environmental challenges with plastic waste varied in landfills or polluting rivers and oceans.
The manufacturing process for plastic is also a major source of Planet warning greenhouse gas.
Payment companies like MasterCard has launched a global project to recycle credits and debit cards as part of its plan to save billions of cards in circulation across the industry from landfill.
Currently, Mastercard said it has around 3.1 billion cards in circulation. Each year, it estimates approximately 600 million cards are produced by the industry, each with a life span of around five years.
According to the payment company, some banks across the world have launched local initiatives which would be able to join the program and help build economies of scale.
Under this plan, MasterCard will provide shredding machines to HSBC each of which is capable of holding 10 000 cards equivalent to 50 kilograms that’s a 110 pounds of plastic. Once full it will be transferred to a plastic recycling facility.
