Turning ocean-bound plastic into a payment solution that supports a more sustainable future
Cargills Bank, in collaboration with Mastercard, has launched Sri Lanka’s first ocean plastic debit card, introducing a more sustainable material into a payment product used every day. Made using recycled ocean-bound plastic sourced from the Indian Ocean region, including the Maldives and the Dominican Republic, the card reflects the bank’s commitment to sustainable banking and responsible innovation.
The launch reinforces Mastercard’s commitment to helping financial institutions develop innovative solutions that advance sustainability while meeting evolving consumer expectations. By incorporating recycled ocean-bound plastic into a widely used financial instrument, Cargills Bank and Mastercard are demonstrating how sustainability considerations can be integrated into everyday transaction experiences.
As an island nation, Sri Lanka’s economic and environmental wellbeing is closely connected to the health of its oceans and coastlines. The ocean plastic debit card aims to help raise awareness of marine pollution and resource conservation while encouraging greater consideration of circular-economy principles.
It also delivers the same security, durability and payment functionality that consumers expect, supported by Mastercard’s global acceptance network. The new card has been developed in collaboration with Lake House Printers and Publishers PLC, whose technical expertise supported the production of the card.
This partnership brings together banking, payment technology and manufacturing capabilities to introduce an innovative product to the Sri Lankan market. It also highlights how cross-sector collaboration can support the development of practical solutions that contribute to a more sustainable future.
Commenting on the launch, Senarath Bandara, Managing Director & CEO, Cargills Bank, said, “The launch of Sri Lanka’s first ocean plastic debit card is an important step in Cargills Bank’s commitment to sustainable banking and responsible innovation. We believe even everyday banking products can contribute to a more sustainable future. This initiative demonstrates our efforts to integrate environmental responsibility into the way we serve customers. We are pleased to have collaborated with Mastercard and Lake House Printers and Publishers PLC for this milestone.”
Mahesha Amarasuriya, Country Manager, Sri Lanka, Mastercard, said, “At Mastercard, we believe innovation should create value not only for consumers and businesses, but also for the communities and environments in which we operate. This launch demonstrates how everyday payment experiences can help advance sustainability objectives, promote more responsible resource use, and raise awareness about the importance of protecting our oceans for future generations.”
