Mastercard adds Infineon to Greener Payments Partnership, driving the development of sustainable payment cards

SECORA™ Pay Green by Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) paves the way for more sustainable payment cards. This innovation together with Infineon’s active contribution to global CO ₂ reduction has been motivating Mastercard to admit Infineon to its Greener Payments Partnership (GPP) advisory council. Mastercard and its industry partners are continuously working to reduce first use plastic usage in the payment card industry, seeking more sustainable solutions for card bodies. Significant progress has already been made, including increased reuse of materials, improved recyclability at the end of a card’s life cycle, and reduced overall volume of plastic used in Mastercard-branded cards. Infineon contributes to the partnership with their expertise in reducing CO₂ emissions in a sustainable chip and module production: With SECORA Pay Green, Infineon provides the technical basis to produce fully recyclable dual-interface contactless payment card bodies without additional card antenna.

According to ABI Research [1], customers are increasingly attracted to financial institutions that emphasize sustainable banking practices. Furthermore, more and more regulations and legal guidelines for environmental protection in the financial industry are emerging. The number of payment cards made from recycled PVC (rPVC) is forecast to increase to around 1.2 billion cards shipped worldwide by 2028, almost five times the 226 million cards shipped in 2022.

“With the introduction of SECORA Pay Green, we are not only setting a new standard for sustainable payment cards but also paving the way for a greener future in the payment industry,” said Tolgahan Yildiz, Head of the Trusted Mobile Connectivity and Transactions Product Line at Infineon. “By reducing CO ₂ emissions and facilitating recycling, we enable financial institutions and card issuers to make a positive contribution to environmental protection while meeting growing customer demand for eco-friendly solutions.”

“Our current product offerings have proven that payment cards with enhanced recyclability can be made from sources that reduce first use plastic usage,” said Joe Pitcher, Vice President of the Mastercard Sustainable Card Program. “To further drive development and CO ₂ abatement, we support innovations such as Infineon’s SECORA Pay Green, which demonstrates innovative thinking and a willingness to redesign products to reduce their environmental impact.”

Going forward, Mastercard and its partners will focus on assessing and reducing CO₂ emissions across the entire card ecosystem, including the chip, module, and inlay. Infineon will support these efforts by paving the way for Infineon’s sustainable payment offering now as a new member of Mastercard’s Greener Payment Partnership. exceet Card Group, a leading European card manufacturer, has become the first one who has obtained its Mastercard Letter of Approval based on Infineon SECORA Pay Green to be able to ship sustainable contactless payment cards without an additional card inlay.

SECORA Pay Green for a more sustainable future

SECORA Pay Green is an important part of Infineon’s climate strategy to achieve carbon neutrality by 2030 [2]. The security solution enables the production of fully recyclable dual-interface contactless payment card bodies made from environmentally friendly and locally sourced materials.

[1] ABI Research, 2023

[2] Klimaneutralität für den Klimaschutz; https://www.infineon.com/cms/en/about-infineon/sustainability/Environmental-Sustainability-and-Climate-Protection/Carbon-Neutrality/

Credit: Scora Pay Green