Friday, 23 April 2021 09:56

HSBC launches SL’s first recycled plastic payment cards Featured

HSBC on Wednesday announced the roll out of sustainable payment cards made from 85 per cent recycled plastic in Sri Lanka.

The new cards, with a vertical design, will be initially issued to HSBC’s Premier customers in April and subsequently to all other credit/debit card customers, later this year.

The rollout is part of a new programme launched by the bank to introduce sustainable payment cards across all its global locations. By the end of 2026 HSBC will eliminate single-use PVC plastic, in favour of recycled PVC plastic (rPVC), the bank said in a media release.

The programme - which includes HSBC’s debit, credit and commercial cards - is part of the bank’s strategy to reduce its carbon emissions and achieve net zero in its operations and supply chain by 2030 or sooner.

Working with global cards manufacturer IDEMIA, the bank will introduce new cards gradually across its locations. Rollout started in Malaysia in January 2021, and will continue in Sri Lanka this month; followed by the UK this summer. It will then extend across further countries and markets by the end of 2021, including Australia, Canada, Indonesia, Macau, Mexico, Singapore, UAE and US.

Nadeesha Senaratne, Country Head of Wealth & Personal Banking, HSBC Sri Lanka said, “As the leading international bank in Sri Lanka, we are proud to take the lead in driving change by becoming the first in the local banking industry to issue recycled plastic payment cards. This move underpins our global ambition to become a net zero business.”

Customers requiring new or replacement cards will be the first recipients. To preserve the life of their existing cards for as long as possible, recycled plastic cards will be issued as their old cards naturally expire. The availability of rPVC cards will vary by location, as each country joins the programme

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