Purchase-headquartered Mastercard (NYSE:MA) is rolling out a global project to recycle credit and debit cards.
According to a Reuters report, the company has partnered with the HSBC Holdings to launch a pilot program at eight bank branches in the U.K. Under the initiative, Mastercard will provide shredding machines to HSBC, each capable of holding 10,000 cards or roughly 110 pounds of plastic. Once full, the contents will be sent to a plastic recycling facility.
Mastercard stated the plan will welcome plastic cards from any issuer for recycling, with the goal of keeping billions of cards out of landfills.
“We are inviting all card issuers around the world to partner with us, no matter what region they are in, and offer card recycling to their customers,” said Ajay Bhalla, president of cyber and intelligence at Mastercard Inc.
