Visa Launches “Eco Benefits” to Help APAC Cardholders Track Their Carbon Footprintby Fintech News Singapore August 3, 2022
Visa announced the launch of a suite of sustainability-focused solutions “Visa Eco Benefits” in Asia Pacific to help its cardholders better understand the environmental impact of their day-to-day payments.
User will be able to calculate the carbon footprint generated by their Visa transactions, and access options for carbon offsetting or charitable donations from their bank’s website or app.
Additionally, cardholders can also access personalised tips and education on sustainable consumption as well as receive physical payment cards made from sustainable materials.
Banks in Asia Pacific that sign up for Eco Benefits will be able to offer these solutions to their Visa cardholders and meet a growing demand for sustainable financial services.
Visa Eco Benefits is in line with the payment giant’s pledge to reach net-zero emissions by 2040, ten years ahead of the Paris Climate Agreement goal.
“The majority (78 percent) of people in Asia Pacific said they are more likely to make more environmentally friendly purchases if they’re able to see their carbon footprint and take steps to change their spending habits.
Our bank and fintech partners across the region can now add these sustainability features to existing Visa cards. Eco Benefits is another way that Visa is expanding our network beyond payment transactions to deliver more insights to our partners and their customers.”
said Chris Clark, President, Asia Pacific, Visa.
“Consumer household expenditure – the products and services we purchase every day – is a major contributor of global greenhouse gas emissions. That gives us as consumers a phenomenal opportunity to address climate change by off-setting the carbon footprint of our day-to-day behaviour and start to live a carbon neutral life.
Up until now, customers did not have any convenient tools to take decisive action to offset their carbon footprint. Verrency’s Carbon Action Index changes that. From now on, consumers can choose to live a carbon neutral life, just by using their Visa card as they do today.”
said Jeroen van Son, Global CEO of Verrency.