CarbonPay Introduces Prepaid Business Payment Card

US-based fintech CarbonPay has rolled out its corporate prepaid card for businesses in the US and the UK that facilitates the reduction of carbon footprints.

For every GBP 1/USD 1.50 spent, CarbonPay offsets 1kg of CO2 at no extra cost. The transparent pricing plan scales with any business, where businesses can add as many or as few people as needed, paying GBP 5/USD 5 a month per cardholder. Companies interested can sign up for CarbonPay Business Ctrl.

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Customers that join the CarbonPay community will benefit from the business' partnership with ecolytiq, a Sustainability-as-a-Service platform. The technology tracks the carbon footprint of every purchase, allowing businesses to fully understand the environmental impact of their spending behaviour, which can lead to data-led decisions on how to reduce their carbon footprint associated with their business purchases.

The company is making it possible for businesses to seamlessly transition to CarbonPay Business Ctrl, by offering integration to accounting platforms while facilitating expense management with digital receipt capture and automated reconciliation. CarbonPay Business Ctrl offers physical cards, lodge cards, virtual cards, and is currently available on ApplePay and GooglePay in the US.

CarbonPay's prepaid card is powered by Visa and Stripe to provide secure payment offerings to users. It also participates in Visa's Fintech Fast Track programme, allowing CarbonPay to leverage the reach, capabilities, and security that VisaNet, Visa's global payment network, offers. The launch aligns with CarbonPay's mission, to support a new sustainable economy where every individual and business plays their part in tackling climate change by creating climate action tools that fit into day-to-day lives.

(Source: The Paypers)