Visa rolls out Eco Benefits in Asia Pacific

Now, Visa cardholders can calculate the carbon footprint generated by their Visa transactions, and access options for carbon offsetting or charitable donations from their bank's website or app.

Banks in Asia Pacific that sign up for 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 in Asia Pacific expect their bank to offer eco-friendly payment solutions. Over half (52%) would switch banks in order to access a product or service that helps them understand the carbon footprint of their spending.

The following solutions are included in Visa Eco Benefits:

• Carbon footprint calculator: insights powered by Verrency for cardholders to understand the estimated carbon footprint generated by their purchases;

• Carbon offsets: cardholders can elect 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 organisations can be triggered when Visa cards are used;

• Card materials: physical payment cards made from sustainable materials;

• Personalised education: cardholders can access personalised tips and education on sustainable consumption.

Visa Eco Benefits is a continuation of Visa's global aspiration to be a climate positive company, using its products, services, data, network, and brand to drive sustainable commerce and support the transition to a low-carbon economy. In 2021, Visa announced a pledge to reach net-zero emissions by 2040, ten years ahead of the Paris Climate Agreement goal.