Visa launches green payment solutions in Asia Pacific

  • New Visa Green Benefits Help Cardholders Understand the Environmental Impact of Their Payment Transactions
  • More than half of consumers Asia Pacific would switch banks for products that help them calculate their carbon footprint

SINGAPORE, August 3, 2022 /PRNewswire/ — Visa, a global leader in digital payments, today announced the launch of Visa Eco Benefits in Asia Pacific. Eco Benefits is a suite of sustainability-focused solutions that will help Visa cardholders across the region better understand the environmental impact of their everyday payments. They can calculate the carbon footprint generated by their Visa transactions and access carbon offset options or charitable donations from their bank’s website or app.

Visa Announces Eco Benefits Solution in Asia Pacific

Banks in Asia Pacific who subscribe to Eco Benefits will be able to offer these solutions to their Visa cardholders and meet a growing demand for sustainable financial services. According to a new Visa/YouGov survey, 66% of consumers of Asia Pacific expect their bank to offer environmentally friendly payment solutions. More than half (52%) would switch banks to access a product or service that helps them understand the carbon footprint of their spending.

“The majority (78%) of the inhabitants of Asia Pacific said they are more likely to make greener purchases if they are able to see their carbon footprint and take action to change their consumption habits, said Chris ClarkPresident, Asia Pacific, Visa. “Our banking and fintech partners in the region can now add these sustainability features to existing Visa cards. The green benefits are another way Visa is extending our network beyond payment transactions to provide more insights to our partners and their customers.”

The following solutions are included in Visa Eco Benefits:

  • Carbon Footprint Calculator: Information provided by Verrency for cardholders to understand the estimated carbon footprint generated by their purchases
  • Carbon Offsets: Cardholders can choose 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 advice and education on sustainable consumption

“Household spending – the products and services we buy every day – is a major contributor to global greenhouse gas emissions.[1],” said Jeroen van Son, Global CEO of Verrency. “This gives us, as consumers, a phenomenal opportunity to fight climate change by offsetting the carbon footprint of our everyday behavior and start living a carbon neutral life. no practical tool to take decisive action to offset their carbon footprint. The Verrency Carbon Action Index changes that. Now consumers can choose to live a carbon-neutral life, simply by using their Visa card as they do today. today.

Visa Eco Benefits continues Visa’s global aspiration to be a climate-positive company, using its products, services, data, network and brand to drive sustainable trade and support the transition to a low-carbon economy. carbon emission. In 2021, Visa announced its commitment to achieve net zero emissions by 2040, ten years ahead of the Paris Climate Agreement target.

For more information on Visa’s commitment to sustainability, visit visa.com/ESG

[1] Columbia Climate School, “How Buying Things Causes Climate Change” December 2020

About the Visa/YouGov Study

All figures unless otherwise stated are from YouGov Singapore Pte Ltd. The total sample size was 14,356 adults in 14 markets. Fieldwork was undertaken between June 23 and July 5, 2022. The survey was conducted online. Figures have been weighted and are representative of all adults (aged 18+) nationally in each of the respective markets. Figures have been weighted and are representative of all adults (aged 18+) nationally in each of the respective markets. The survey was conducted in the following markets: Vietnam, Thailand, Singapore, Philippines, Malaysia, New Zealand, Australia, Continent China, Indonesia, hong kong, IndiaKorea, Japan and Taiwan.

About Visa Inc.

Visa is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities in more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payment network, enabling people, businesses and economies to thrive. We believe economies that include everyone everywhere, uplift everyone everywhere, and see access as fundamental to the future of money movement. Learn more at Visa.com.

About Matthew R. Dailey

Check Also

Commercial Payment Cards Market Forecast, Trend Analysis to 2028 | Citigroup Inc., US Bancorp, JPMorgan Chase & Co., Bank of America Corporation, Discover Financial Services, Capital One Financial Corporation, Wells Fargo & Company, Synchrony Financial, Barclays Plc, American Ecpress Company, MUFG, Banque Resona, Mizuho, ​​​​SBI Holdings, SMBC

The Market Research Intellect recently revealed an expert research report titled “Commercial Payment Cards Market …