Giesecke+Devrient Drives Sustainable Payment Solutions in India by Committing to Eliminate Virgin Plastic from Payment Cards Industry by 2030

In a significant stride towards a sustainable future, Giesecke+Devrient (G+D), the global security technology group, announces a pioneering commitment to replace all virgin plastic in its payment card products by 2030, setting the stage for a sustainable revolution in the Indian payment industry.

As the once-distinct boundaries between physical and digital customer journey is fading; G+D, stands out as a technology leader for card and digital payments, offering secure payment technology and trusted software. With a proven global banking and payment expertise trusted by over 5000 banks and issuers worldwide. It is strategically positioned to support the India’s financial ecosystem.

G+D’s eco-focused card product line, is already a global success and widely taken up by the banking & finance sector world over. As it takes center stage in India, presenting the only card in the industry with the relevant card body layers made of 100% sustainable materials. This aligns with G+D’s commitment to support Indian banks & fintech’s in their Environmental, Social, and Governance (ESG) initiatives, fostering a seamless transition to eco-friendly practices. Financial institutions that harness the ESG potential not only fortify their bond with existing customers but also appeal to those who prioritize ethical and sustainable choices.

Adding his views on the subject, Mr. Naresh Rao, Vice President, Financial Services Solutions, G+D, says, “India produces nearly 4 million tons of plastic waste every year. Most of this waste is disposable plastic. In a nation where consumers are increasingly conscious of their environmental footprint, G+D is proud to contribute to India’s sustainable banking landscape. By eliminating virgin plastic from our payment card products, we are taking a pivotal step towards creating a greener and more responsible financial ecosystem. We implore financial institutions across the nation to join hands in this endeavor, collectively contributing to a world that is not just sustainable but also a more beautiful place for us to call home.”

G+D is looking at Indian financial institutions and the payment card industry to embrace the sustainability movement. The company has pledged itself to end the use of virgin plastic in payment cards by 2030, thereby committing to weave a new future that not only redefines sustainability but also leaves an indelible mark of compassion on the planet and the world we share.

About Giesecke+Devrient

Giesecke+Devrient (G+D) is a global SecurityTech company headquartered in Munich, Germany. G+D makes the lives of billions of people more secure. The company shapes trust in the digital age, with built-in security technology in three segments: Digital Security, Financial Platforms and Currency Technology.

G+D was founded in 1852 and today has a workforce of more than 14,000 employees. In the fiscal year 2022, the company generated a turnover of 2.53 billion euros. G+D is represented by 123 subsidiaries and joint ventures in 40 countries.

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