Visa, the leading payment technology company globally, announced the launch of Visa Eco Benefits. This is a new one package of benefits focused on sustainability, designed for financial institutions that issue payment cards.
Visa Eco Benefits, the sustainability package
The new package Visa Eco Benefits will be available sooner in Europe and then, over the next year, it will be rolled out globally to Visa partners and customers. This new package will allow Visa credential issuers to add to credit products e debt Existing Visa.
These are sustainability-focused benefits that allow cardholders to understand, for example, the impact of their spending on the environment. At the same time they encourage sustainable consumption and behavior. Here are the features available at launch or that will be implemented over time:
- Carbon footprint calculator: analysis services offered by ecolytiq to credit card holders on the carbon footprint of their spending habits. Includes scoring your own impact on temperature to help credit cardholders understand how their consumer choices contribute to the Paris Agreement’s 1.5 ° C target on Change Climatic.
- Carbon offsets: possibility for customers to offset the impact of their greenhouse gas emissions.
- Personalized customer education on how to encourage more sustainable consumption.
- Sustainable paper materials, including a partnership with CPI Card Group and digital receipts.
- Donations to environmental organizations when using Visa cards. Among them is One Tree Planted, a non-profit organization that helps global reforestation efforts.
- More recognition for sustainable behavior.
Visa’s commitment to sustainability
Charlotte Hogg, the EVP and Chief Executive Officer of Visa Europe, said:
At Visa, we are aware of the urgency of climate change and are committed to a new era of sustainable and inclusive economic growth. As a driver of global commerce, we have the opportunity to work with customers and partners around the world to integrate sustainability into the payments ecosystem and support consumer and business choices during the transition.
The package Visa Eco Benefits is the last piece ofVisa’s global commitment which company which has a positive impact on the climate . Earlier this year, Visa had announced its goal it wanted to achieve net zero emissions by 2040, ten years before the goal defined by the Paris Agreement on Climate.
Ulrich Pietsch, the Co-Founder and CEO of ecolytiq, said instead:
Sustainability is the challenge of our time, but also one of the greatest opportunities for the financial industry. Equipped with the right tools like the Visa Eco Benefits package, the financial sector becomes the driving force for change, educating millions of consumers about their impact and empowering them to take effective action to build the sustainable future we all deserve.
For more information on Visa’s commitment to sustainability, you can visit the official website.