Santander recycles bank cards in branches

Santander is now piloting a recycling programme in selected UK branches, which will run for six months. It will allow the public to dispose of outdated or unused bank cards in a safe and environmentally friendly way.

FACTS

• The bank is one of the first in the UK to offer plastic recycling machines in its branches.

• Dedicated self-service machines allow users to shred their unwanted cards into chips for safe disposal. The cards are turned into plastic granules ready for recycling.

• These advances are part of the group's commitment to go zero carbon by 2050 to support the goals of the Paris Agreement on climate change.

CHALLENGES

• Enabling the recycling of a complex product and involving its customers: payment cards are typically composed of several layers of laminated plastic, metal oxide particles, solvents, ink and magnetic strips, making them particularly difficult to recycle. Furthermore, when a card expires, the problem remains with the cardholder, who is responsible for disposing of it in what are generally perceived as unsafe conditions. With the installation of this device, Santander wants to support its customers and gain more control over the card recycling chain.

• Having an environmental impact on the market: with 92 million debit cards and 60 million credit cards in circulation in the UK, the issue of recycling is a major challenge that Santander wants to tackle. At the same time, Santander is accelerating the provision of 'greener' cards. The bank expects that by 2025 all its cards issued in the UK, Spain, Portugal and Poland will be made of more sustainable materials.

MARKET PERSPECTIVE

• In 2021, the Caisse d'Epargne was one of the first banks to introduce recycling of its bank cards. Several branches offer their customers the opportunity to recycle an expired bank card. The card is collected by the branch and goes through a 100% French recycling circuit.

• In 2020, Mastercard, in collaboration with industry players, has developed a programme that encourages all card issuers to produce "sustainable" cards worldwide. Mastercard's sustainable payment cards have been offered to consumers in a dozen countries. More than 60 financial institutions have begun issuing cards made from materials that are recyclable, biobased, chlorine-free, biodegradable and recycled by the oceans.