CarbonPay launches payment card to offset their carbon footprint

Tuesday 19 April 2022 12:54 CET | News

US-based fintech CarbonPay has released its first product, ‘CarbonPay Business Ctrl’, a prepaid corporate card offering.

The company claims that for every USD 1.50 or GBP 1 spent using its products, it offsets 1 kg of CO2 at no extra cost. Their service is currently only available in the US and the UK.

CarbonPay Business Ctrl runs at the front of a company business account. Once a business signs up with CarbonPay for the prepaid card, they get access to a business account, which is supported by a dashboard to help administrators. From that dashboard, institutions can set individual card limits for their entire team. Since the card doesn’t have a credit element to it, firms don’t need to worry about credit checks, interest rates, or payment due dates. CarbonPay also doesn’t have any minimum spend requirements.

The solution can be integrated directly into accounting platforms, facilitating expense management with digital receipt capture and automated reconciliation. CarbonPay has also partnered with Sustainability-as-a-Service platform Ecolytiq, which allows businesses to track the carbon footprint left by their spending. Clients have access to a custom dashboard, giving all cardholders visibility over the environmental impact, which enables employees to be more engaged in their company’s green goals.

Clients can add a custom number of people to their plans, paying USD 5 or GBP 5 per month per cardholder. This subscription fee model also grants clients access to CarbonPay’s smart features, which include automatic offsetting, carbon footprint tracking data, integration with accounting software, expense management, and a custom online dashboard.

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Keywords: carbon footprint, product launch, corporate card, spend management, green finance
Categories: Payments & Commerce
Companies: CarbonPay
Countries: United Kingdom, United States
This article is part of category

Payments & Commerce


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