The payment provider is committed to making payments greener, so the new Visa Sustainability Solutions team will cooperate with?clients during their sustainable decision-making processes
The payments and financial services industry should accelerate sustainable consumption and behaviours. Source: unsplash.com
Visa in Europe has established a sustainability solutions team, led by Steve King, to cooperate with clients and partners across Visa’s network on sustainable payment solutions.
The team is already working with the existing Visa Eco-Benefits?offering, which features a carbon footprint tracker, and with other partners to facilitate seamless payments for EV charging.
In addition,?Visa has formed a new Visa Consulting & Analytics Sustainability Advisory Practice. It supports clients in creating their sustainability strategy, developing their roadmap and designing the business case for their eco-centric approach.
Plan A has also recently become Visa’s partner under the Visa Fintech Partner Connect programme. This?sustainability initiative enables businesses to manage their net zero journeys in a single SaaS solution. It offers integrated and automated CO2 emission calculations, helping to set and achieve science-based carbon reduction targets.
Through the partnership with ecolytiq,?Visa customers would be able to analyse payment data in real-time, receiving a picture of one’s individual environmental footprint. The product is integrated into the mobile banking app to guide clients to more sustainable choices.
According to a recent Visa survey, 46% of consumers have stopped buying from certain companies because of their negative impact on the environment or society. Moreover, 42% of European respondents said they would use their payment cards more often if a financial institution rewarded them for sustainable behaviours.
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Nina Bobro
Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.
