Fintech companies must incorporate the concept of sustainability as a key element in their business development strategies, such as the use of payment cards, adopting robust policies in the medium/long term to “connect” with their customers.
On this, G+D has explained that bank cards can be the axis to show this commitment and around which it is possible to develop an entire environmental policy that satisfies users. The policy should include:
- the use of sustainable cards, ensuring the sustainable treatment of cards throughout their entire life cycle
- adopt digital solutions capable of replacing paper support in the fields of security or marketing
- integrate into its operations actions developed together with environmental and connected organizations
“We can be the best partner for fintechs by providing them not only with green and innovative payment cards, but also with a network of green partners who bring additional value to their product and service offerings,” explains Carsten Wengel, Global Head of Sales. and Distribution of the Cards and Digital Payments business of G+D.
Payment cards for sustainability
Regarding the use of sustainable cards, today cards can be manufactured with 100% recycled PVC layers or with more advanced components, such as PLA biomass, which require much lower energy consumption for their production than that required by cards. conventional plastic.
In addition, with this type of card, as it can be composted at the end of its useful life, the plastic waste typical of conventional cards is also eliminated. G+D has already developed projects of this type for the Spanish fintech Divilo and for Ferratum Bank plc’s SweepBank
Regarding the second point, G+D points out the need to ensure the sustainability of the cards throughout their life cycle. Thus, the company aims, for example, to use recycled paper for welcome letters to customers or to create the packaging for the cards themselves.
G+D turns payment cards into the axis of the development of sustainability policies in the fintech world
Likewise, as a third point, the replacement of analog communication channels, the use of QR codes or augmented reality technology in commercial or marketing materials is recommended to avoid paper support. The company also aims to print on demand letters, brochures and other materials that accompany the cards, which allows, in addition to eliminating storage or surplus, to have the flexibility of being able to personalize the materials to measure at the time of issue.
G+D likewise endorses in a sustainability strategy the development of collaboration programs with environmental organizations that carry out concrete and tangible actions in favor of ecosystems and that the entities can integrate within their programs in favor of sustainability.
Lastly, the company recommends encouraging customers themselves to become activists for the environment in their day-to-day lives. To do this, it is proposed to connect the cards with other environmental or social responsibility initiatives that involve them. The objective is to allow them to assume personal responsibility and for this, formulas are suitable, for example, the financing of a tree plantation or making it easier for clients to measure their own carbon footprint.
George is Digismak’s reported cum editor with 13 years of experience in Journalism