Visa, the world leader in digital payments, registered on the New York Stock Exchange under the symbol (V), announced yesterday the launch of the “Visa EcoBenefits” solutions in Qatar in cooperation with the financial technology company and Visa’s partner “Ecolytic”. Headquartered in Berlin, with its Sustainability as a Service® solution.
The Visa EcoBenefits will allow Visa card issuers to add sustainability-focused solutions to their existing Visa credit and debit card products, enabling cardholders to understand the impact of their spending on the environment, as well as encouraging sustainable consumption and behaviors.
Through this new offer, Visa reaffirms its commitment to promoting and enabling sustainable trade and climate action in the payments sector, and supporting the goals of its customers to meet the growing demand from cardholders for meaningful sustainable products.
“As consumers’ concerns about sustainability rise, Visa EcoBenefits provides financial institutions with a tool to help their customers understand the impact of their spending on environment, facilitating daily behavior change, and making positive contributions to climate action.”
According to a recent survey conducted by GlobeScan, a polling and research company, global concern about climate change is at an all-time high, and the majority of individuals who live with children under the age of 18 say that their children are very concerned about environmental problems and climate change.
The Visa EcoBenefits package is a continuation of Visa’s global ambition to be a climate positive company, using its products, services, data, network and brand to promote and enable sustainable trade and support the transition to a low carbon economy. In 2021, Visa announced its pledge to reach net zero emissions by 2040, ten years ahead of the Paris climate agreement target.
For his part, Ulrich Pietsch, Co-Founder and Managing Director of Ecolitic, said: “Sustainability is the main challenge of our time, but it is also one of the greatest opportunities for the finance sector. Equipped with the right tools such as the Visa EcoBenefits package, the finance sector can become a driving force for change by educating millions of consumers on the impact of their spending on the environment and empowering them to take effective action towards climate action to build the sustainable future we all deserve.”
