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Transforming Payment Cards into Community Assets:
A Case Study with Santander Bank
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Transforming Payment Cards into Community Assets:
A Case Study with Santander Bank
Promoting sustainability is one of the essential ways banks can contribute to the community’s health and well-being. As a tangible symbol of the relationship between a bank and its customers, the payment card should be a prime consideration for banks looking to accelerate and elevate their sustainability strategies and goals.
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Explore the full details of how Santander Spain and G+D are leading the way in sustainable payment solutions. Download our case study to learn more and discover how your organization can implement similar initiatives.
Overview
Santander Spain and G+D collaborated to create a payment card recycling program, demonstrating their dedication to their eco-goals, customers, and community. Santander Spain wanted to find new use cases for expired payment cards, so it enlisted the help of G+D, which has been at the cutting edge of eco-friendly payment innovation for years, to explore ways in which expired payment cards could be repurposed into assets that could enrich the local community.
The recycling challenge
Even in today’s digital-focused world, payment cards remain one of the most popular methods of payment, with an estimated 26 billion in circulation as of the end of 2022. End-of-life recycling of payment cards can be a vital part of any bank’s sustainable strategy, but the process is not straightforward. If payment cards are not recycled, they could be discarded as litter or sent to landfill, so moving to dispose of them more eco-consciously can only benefit the planet and our communities.
However, payment cards require specific, dedicated recycling programs. The reason for this is the mix of materials that make up a card—the bodies can be made of different plastic types, and they contain metal and other non-plastic materials to make the card functional. This makes recycling a payment card more complex than discarding it into a “green” bin at the end of its lifespan.
Why end-of-life recycling matters?
- Virgin production is wasteful
- 90% of the materials we extract and use are wasted.
- 92% of customers will be more likely to trust a company that supports social or environmental issues.
- Create new touchpoints with eco-conscious customers
- Shape a positive banking image in the public through providing public furniture in the community.
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Embracing the Challenge of Complex Card Recycling
Payment cards, as one of the most convenient and widely adopted payment methods, contain very complex electronics beyond the card body materials themselves. Effective recycling demands specialized methods to safely and efficiently separate and process each material. Thus, G+D must work together with banks and their end-customers to recollect expired payment cards and launch delegated workflows to minimize their impact on the environment and create a lasting positive impact. Banks can also take this as an opportunity to reproduce community-friendly furniture and items that can strengthen their bonds with the local community.
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Environmental Impact
Reducing plastic waste and CO2 emissions through sustainable recycling practices.
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Community Engagement
Strengthening customer relationships by giving back to the community.
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Sustainability Leadership
Setting new standards in the banking industry for eco-friendly practices.
Program Insights
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Collection:
Expired cards gathered through Santander’s ATM network.
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Processing:
Securely transported and recycled into new community assets.
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Impact
Positive responses from customers and communities, leading to extended programs in other regions.
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“By transforming payment cards into community assets, our recycling initiative with banks highlights our commitment to sustainability and community enrichment for future generations.”
Win the ESG Awards with us!
Banco Santander and G+D have won the first prize at the Pay360 Awards 2024 in the category of Best ESG Implementation in Payments for their circular economy project to reuse expired payment cards and convert them, along with fishing nets collected from the sea and coasts, into urban furniture; furniture that is then donated to public organizations and placed in spaces throughout Spain. This pioneering initiative began two years ago with G+D and has already produced 160 Santander benches. This circular economy project has set a precedent in Spain for sustainable practices in the banking and technology industry. To date, Santander has already recycled more than 1.1 million cards in Spain, equivalent to 5.6 tons of plastic.
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