As the world marked Earth Day this week, the urgency of sustainability once again took center stage. In the financial services and digital payments sectors, the discourse around environmental sustainability is often entangled with another recurring narrative: the “death of cards.” For over a decade, this has been a common refrain — one I first heard back in 2007 during my tenure at Barclays (now Absa). Yet, as I reflect on nearly two decades across leading institutions — American Express, Mastercard, BPC, and now MDP — the reality speaks quite the opposite.
The global demand for payment cards is not only alive, it’s thriving. By 2024, the number of both scheme and proprietary cards surpassed nine billion. South Africa alone accounts for over 70 million active cards. Globally, over 4.5 billion cards were issued in 2023 — a strong signal that cards are not vanishing; they are evolving. And MDP is proud to be at the forefront of that evolution, especially across the Middle East and Africa (MEA) region.
Governance Before Sustainability: A Shift in ESG Thinking
We often speak of ESG — Environment, Social, and Governance — in that order. But perhaps it’s time we rethink the hierarchy. Governance — the least discussed yet arguably the most fundamental — should lead. Without governance, sustainability efforts risk being cosmetic. For change to take root, we must first be willing to be held accountable.
The payments industry has a unique opportunity to lead by example in embedding governance into sustainability and digital transformation agendas. At MDP, our approach reflects this integrated view of ESG, with product innovation and responsible manufacturing going hand-in-hand.
MDP’s Commitment: Innovation with Impact
Our ambition at MDP is to redefine the future of cards not just functionally, but ethically and sustainably. We have invested in a diverse suite of card technologies, including:
- Standard base cards
- Metal cards
- Braille and voice-enabled cards for the visually impaired
- LED-enabled cards
- Fragrance-infused cards
- And most significantly, sustainable cards made with 0% plastic
This is more than product diversification. It is a deliberate response to the call for environmentally conscious solutions. It is about aligning financial access with responsible innovation.
Cashless vs Cashlite: A Contextual Reality for Africa
Why Weekends No Longer Mean Stalled Business - dfcu’s Weekend Agent Float Loan Is Transforming Uganda.While much of the global North pursues a fully “cashless” ideal, Africa must embrace a more nuanced approach — one I advocate as “cashlite.” This model acknowledges our context: the infrastructural, cultural, and behavioral realities on the ground.
Rather than eliminating cash entirely, let us focus on reducing its dominance through smart, scalable alternatives. And while we do so, let us also reduce plastic waste, not just from shopping bags but from the very cards we issue.
Leading with Purpose: Mastercard and the Eco Certification
I commend the leadership shown by global networks like Mastercard and Visa in pushing eco-friendly standards for payment card production. At MDP, we are proud to be Mastercard certified under the Card Eco Certification (CEC) Scheme — enabling us to manufacture cards that are recyclable, sustainable, and future-ready.
The challenge ahead is to scale these initiatives and embed them not as nice-to-have marketing points, but as industry standards.
Conclusion: Cards Are Not Dying — They Are Transforming
The narrative that cards have no future is not just outdated; it is misinformed. What we are witnessing is not obsolescence but reinvention. The card of the future is sustainable, inclusive, and increasingly digital — but still very much a card.
As industry leaders, we have the responsibility to ensure that our tools of trade — like payment cards — evolve with purpose. We must adapt, innovate, and lead with a bold vision for a financially inclusive and environmentally responsible future.
