Mastercard launches global plan to recycle credit cards
Initially partnering with British lender HSBC in eight branches in Britain, Mastercard said banks across the world, some of which have launched local initiatives, would be able to join the programme and help build economies of scale. "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. Under the plan, Mastercard will provide shredding machines to HSBC, each of which is capable of holding 10,000 cards, equivalent to 50kg (110lb) of plastic. Once full, the shredded material will be transferred to a plastic recycling facility. Financial details about the plan were not disclosed. The pilot project, which will run for an…