Marqeta, the card issuing platform, has unveiled a recycling initiative as part of a mission to reduce its plastic footprint and focus on plastic neutrality. Grocery delivery platform Cornershop leads the way in issuing the recycled plastic cards.
Alongside a partnership with plastic credit firm rePurpose Global and card fulfillment partner Perfect Plastic Printing, Marqeta will offer customers the choice to issue physical cards made from 43 per cent recycled plastic through its platform.
California-based Marqeta has committed to work with rePurpose Global to remove 380,000 pounds of nature-bound plastic from the environment in 2021 and channel it towards sustainable reuse.
Latin American grocery delivery platform Cornershop, recently acquired by Uber, is the first customer to issue recycled cards through Marqeta to new Cornershop delivery shoppers globally.
Oskar Hjertonsson, founder and CEO of Cornershop by Uber, said: “We applaud Marqeta for taking the initiative with this new recycled card product, and for reducing the environmental impact of plastic cards. It offered us an opportunity to be environmentally conscious, without sacrificing the quality and durability of the cards used by Cornershop delivery shoppers, which is a true win-win.”
According to Marqeta, it is estimated that 37 metric tons of plastic enters the oceans every year, with 74 percent of plastic never recycled. Even if governments meet their environmental commitments, annual plastic emissions could reach 58 million tons by 2030.
Jason Gardner, founder and CEO of Marqeta, adds: “This is a key step for Marqeta toward our eventual goal of plastic neutrality. It’s crucial that as a company we take it upon ourselves to be positive stewards of the environment, and by helping our customers reduce their plastic footprint, we also reduce our own.
“Marqeta is excited to be able to offer recycled cards to our customers like Cornershop, and to partner with a social enterprise like rePurpose to reduce the environmental impact of the plastic cards we issue.”