Mastercard, bunq expand Green Card availability in Europe
Challenger bank bunq has expanded its card partnership with Mastercard to cover 30 European countries as it grows its mobile only footprint coupled with its Green Card.
The sustainable metal bunq Green Card, introduced in November, will now be available across all countries where bunq has a banking license. Mastercard will also support bunq’s other card products such as its bunq Travel Card. Bunq will plant a tree for every €100 spent using the Green Card.
“We have successfully partnered with bunq over the last five years and are proud that this exciting partnership continues to grow; driving ease and speed for people across Europe and delivering positive impact for the environment,” said Javier Perez, president of Mastercard Europe in a press release.
In the four months since the bunq Green Card was introduced, bunq has planted over 100,000 trees, representing €10 million in spending. The card is produced in an environmentally friendly way from packaging to production. Other card issuers are also seeing eco-consciousness as an opportunity. For example, American Express is updating its classic green card by using recycled plastic gathered from the ocean to build it.
Bunq was founded in 2012 by Ali Niknam and launched publically in 2015. As of December 2019 bunq user deposits exceeded €433 million.
Bunq’s model aligns with the desire for branch-free mobile account opening and banking amid the coronavirus pandemic. Traditional banks are being forced to adjust, such as JPMorgan Chase temporarily closing 1,000 branches in the U.S. and curtailing hours in other branches to contain the virus’ spread.
“We are extremely excited to take our partnership with Mastercard to the next level. Together with our users we have established an easy way for everyone to create a greener world with zero effort. Together we will further expand bunq Green Card throughout Europe,” said bunq founder and CEO Ali Niknam in a press release.