Sustainable FinTech CarbonPay Debuts Business Payment Card

Sustainable FinTech platform CarbonPay has launched a prepaid corporate card designed to help businesses offset their carbon footprint.

According to a company news release Monday (April 4), CarbonPay Business Ctrl. allows businesses to have 1 kilogram of CO2 offset for every £1 / $1.50 they spend.

“The fight against climate change can’t be solved by a handful of people, it requires systemic change and for everyone to take action,” said Rory Spurway, CEO and founder of CarbonPay. “That’s what inspired us to create CarbonPay, to help people and businesses around the world make a simple, but impactful change which will help us all in the fight against climate change. We turn every transaction into meaningful climate action by automatically offsetting CO2 every time you pay. It’s a simple, but important step towards making a real difference.”

The company says it has made it possible for businesses to easily transition to using the new card by offering integration to major accounting platforms. The program offers physical cards, lodge cards, and virtual cards and is available on ApplePay and GooglePay in the U.S., “ensuring it meets the needs and preferences of all businesses,” CarbonPay said.

In addition, customers who work with CarbonPay can benefit from its partnership with ecolytiq, a company that tracks the carbon footprint of each purchase, “allowing businesses to fully understand the environmental impact of their spending behavior” and make “data-led decisions on how to reduce their carbon footprint associated with their business purchases.”

Read more: Visa Eco Benefits Allows Consumers to See Environmental Impact of Purchases

CarbonPay’s prepaid card is powered by Stripe and Visa, which is no stranger to the world of sustainable cards.

Last year, Visa launched a set of sustainability-focused benefits intended for account issuers to be able to get cardholders to embrace green consumption habits.

Visa Eco Benefits allows Visa issuers to add benefits for sustainability to Visa cardholder credit and debit accounts. The program is designed to help cardholders understand how their spending affects the environment, while also encouraging them to adopt sustainable behaviors.