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The First Bank in Vietnam to Launch Eco-Friendly Payment Cards

HSBC Bank Vietnam has just launched a payment card made from recycled PVC plastic (recycled Polyvinyl chloride – rPVC), which is not the usual single-use PVC.

Hanoi, VNA – HSBC Bank Vietnam has just launched a payment card made of recycled PVC plastic (recycled Polyvinyl chloride – rPVC), a material other than the usual single-use PVC.

This is part of the HSBC Group’s global sustainable payment card issuance plan, which contributes to the implementation of the Group’s carbon emission reduction strategy and its goal of achieving net zero emissions by 2030.

HSBC Vietnam aims to completely phase out single-use plastic PVC cards by the end of 2026 and replace them with rPVC plastic cards. It is also the first bank in Vietnam to use recycled materials for payment cards.

A representative of HSBC Vietnam revealed that the switching program will start on January 1, 2022, for Premier MasterCard credit cards, Premier debit cards and standard Visa debit cards. Other card products are expected to switch from May 2022.

The new cards are made from 85% recycled plastic from industrial waste. In Vietnam, HSBC’s move to issue rPVC cards will help reduce carbon emissions by half a ton and save 0.2 ton of plastic annually. System-wide, HSBC helps reduce 161 tonnes of carbon emissions and 73 tonnes of plastic waste globally each year.

Previously, to help individual customers reduce carbon emissions and contribute to creating an emissions-neutral future for the world, HSBC has launched a series of green credit products in Vietnam, such as concessional loans for green building projects and rooftop solar installation projects Wait. It is expected that the bank will continue to promote the development of green credit in Vietnam in the future.

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