Visa partners with ecolytiq to launch ‘Visa Eco Benefits’

By Leandra Monteiro

Visa announced the launch of its Eco Benefits solution in the United Arab Emirates (UAE) in partnership with the Berlin-based FinTech and Visa partner ecolytiq and its Sustainability-as-a-Service® solution.

Visa Eco Benefits will allow Visa issuers to add sustainability-focused solutions to existing Visa credit and debit products, enabling cardholders to understand the impact of their spending on the environment, as well as encouraging sustainable consumption and behaviours.

“With consumer concerns around sustainability at an all-time high, Visa Eco Benefits give financial institutions a tool to help their clients better understand their impact, facilitate daily behaviour change, and make positive climate contributions,” said Otto Williams, SVP Head of Product, Solutions and Partnerships CEMEA, Visa.

The Visa Eco Benefits bundle 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.

“Sustainability is the challenge of our time, but also one of the greatest opportunities for the finance industry,” said Ulrich Pietsch, Co-Founder and Managing Director at ecolytiq. “Equipped with the right tools like the Visa Eco Benefits bundle, the finance industry becomes the driving force for change by educating millions of consumers about their impact and by empowering them to take effective climate action to build the sustainable future we all deserve.”

With this new offering, Visa reaffirms its commitment to driving sustainable commerce and climate action in the payments industry, supporting its clients’ objectives to meet increasing demand from cardholders for sustainable and purpose-led products.