TSB has partnered with Mastercard to launch a new Debit Mastercard card with one unique twist – the card is 85% biodegradable meaning once expired, it can break down much faster than a standard bank card.
This New Zealand first is made from degradable PVC film with an additive that helps it to degrade in the right conditions such as organic compost.
TSB’s GM of Marketing and Customer Experience Justine St John says TSB worked with Mastercard and Placard to develop this innovative and more sustainable card based on customer feedback.
“We know that customers are becoming increasingly more environmentally conscious and savvy. In New Zealand, thousands of plastic bank cards are issued each year and although the back of the couch may be responsible for where some of them go, many will end up in landfill one way or another.
“By offering a card that is largely biodegradable, we are reducing the amount of plastic that just sits in a landfill for decades.”
And it doesn’t stop there. If a customer requests the courier delivery option, the card arrives in a 100% biodegradable bag that contains corn starch and is printed with non-toxic inks.
Traditional bank cards can take decades to break down - they’ve been called the ‘plastic straw of the banking industry’ by some. By offering a card that is 85% biodegradable, TSB is providing consumers banking options when making sustainability choices.
The remaining 15% of the card is made up of the antenna inlay, the mag stripe, signature panel, hologram and chip module.
“As consumers become more conscious of their environmental footprint, many are looking for ways to help tackle climate change through their actions and behaviours. Mastercard believes the digital economy should be both inclusive and sustainable, and is committed to innovating for good by creating, and scaling, products that benefit people, businesses, and our planet.
“The TSB Debit Mastercard card is a great example of this commitment in action, offering TSB customers a safe, secure and sustainable way to pay” said Lucy Jezard, Director, Account Management and Head of Issuing, New Zealand, Mastercard.
The new TSB Debit Mastercard card has a modern and slick vertical layout making it more suited to contactless payments. It will be available from 14 September, customers can apply online at tsb.co.nz (terms and conditions apply).
TSB has been awarded the Consumer New Zealand People’s Choice Award for banking for six years running.