Companies across the fintech sector are on the hunt for partners that not only represent the latest tech advances, but that can also help contribute to a more sustainable future. Major institutions such as Visa and Stripe have invested considerably in finding a way to help clients offset the ecological externalities of their businesses, a process that can often be expensive and cumbersome.
Thanks to New York and London-based startup CarbonPay, that procedure is about to become much simpler. With the launch of their new corporate prepaid payment card known as CarbonPay Business Ctrl, businesses will be able to automatically offset their carbon footprint with every transaction.
CarbonPay Founder and Chief Executive Officer Rory Spurway characterized the new card as having the potential for truly meaningful environmental change. With CarbonPay Business Ctrl, Spurway explained in a statement, the startup can “turn every transaction into meaningful climate action by automatically offsetting CO2 every time you pay” to the tune of 1 kilogram of CO2 for every $1.50 spent.
A former Visa Fintech Fast Track participant, CarbonPay has quickly forged partnerships with fintech institutions throughout the industry. Building their latest card offering off Stripe infrastructure, CarbonPay also makes use of SaaS partner ecolytiq’s platform to boost corporate understanding of environmental outputs.