Transcorp International Limited announced the launch of India's first recycled (rPVC 1) Rupay card, along with MCT Cards & Technology Pvt. Ltd. and NPCI (National Payments Corporation of India). The move reinforces Tide's commitment to becoming a more sustainable company, including its pledge to make reaching Net Zero simpler for its members (customers) in India, and globally.

Made from 99% recycled plastic, this is the first such move by a fintech company in India. Each rPVC card will save 7g of carbon and save 3.18g of plastic, which would ordinarily be used in the production of a new card made with virgin PVC. The cards will go through an open loop recycling process, which means that old products are transformed into new ones, reducing industrial plastic waste.

The material used for production of Tide rPVC cards is approved by global testing agencies including market leader Intertek, and is also compliant with GRS 4.0 (Global recycled standard). All the cards are tested for parameters like Ink Adhesion/Wrappage/Bending/Stress Test and are compliant with ISO standards, they also undergo a CIPET2 certification. The cards will carry the sustainability badge on the reverse side, educating the customer that the card is made of recycled plastic.

In March, Tide became the first fintech in the world to remove 100% of its emissions with durable carbon removals as of 2022 onwards. The business has also committed to becoming fully NetZero by 2030 and to support its UK members (more than 9% of UK SMEs), and growing network of Indian SMEs on their journey to NetZero. Tide and Transcorp, along with MCT and NPCI will embark on this industry- first initiative as part of an India-wide and global shift away from virgin plastic and accelerating commitments towards reducing carbon emissions.