Visa Launches Sustainability-Focused Payment Solutions in Asia-Pacific

The digital payment giant is encouraging consumers towards a sustainable digital lifestyle

Visa, a world leader in digital payments, has launched its Visa Eco Benefits in Asia Pacific. With a suite of sustainability-focused solutions, Visa Eco Benefits help Visa cardholders across the region better understand the environmental impact of their day-to-day payments—offering users the tools to calculate the carbon footprint generated by their transactions, and access options for carbon offsetting or charitable donations from their bank’s website or app.

According to Chris Clark, Visa’s president for Asia Pacific, 78% of people in Asia Pacific said that if they were able to see their carbon footprint and take steps to change their spending habits, they’re more likely to make more environmentally friendly purchases. “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,” he adds.

Here are the solutions included in Visa Eco Benefits:

- Carbon footprint calculator: insights powered by Verrency for cardholders to understand the estimated carbon footprint generated by their purchases

- Carbon offsets: cardholders can elect to offset their carbon footprint from a range of specially curated projects in areas such as forestry and clean energy

- Charitable contributions: donations to environmental organizations can be triggered when Visa cards are used 

- Card materials: physical payment cards made from sustainable materials

- Personalized education: cardholders can access personalized tips and education on sustainable consumption.

The products and services we purchase everyday can be a major contributor to global greenhouse gas emissions, according to Verrency global CEO Jeroen van Son. With tools like Verrency’s Carbon Action Index, consumers now have the opportunity to address climate change by offsetting the carbon footprint of daily behavior. In 2021, Visa announced a pledge to reach net-zero emissions by 2040, ten years ahead of the Paris Climate Agreement goal. Visa’s ultimate aspiration is to become a climate-positive company, by using its products, services, data, network, and brand to drive sustainable commerce and support the transition to a low-carbon economy.

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