The former France captain has backed the introduction of a system similar to the one used in rugby, where players spend 10 minutes off the field when found guilty of infringements deemed unworthy of dismissal.
Platini feels sin bins would bring fairer punishments, as opposed to players missing future games against different opposition due to the accumulation of yellow cards.
In an interview with AS, Platini said: "I would make it like rugby, punishing the offender with 10 or 15 minutes out of the game.
"That way, the benefit goes to the team he is playing against, in the same match, instead of a sanction by cards which is carried out against a third team, the next on the calendar.
"It is an idea. Now it needs to mature and see if it really is good for the game. It is a proposal to be explored."
The 58-year-old also suggested goalkeepers need not be punished with red cards for conceding penalties.
"It seems excessive," Platini added. "The penalty itself is already punishment enough.
"I think it's something that everyone in FIFA and UEFA agree, but one or two of the countries that make up the International Board are unwilling to change."