GreenPay - ecofriendly payment cards and sustainable banking
Introduction
Payment cards have become a regular feature of banking and finance in this 21st century. In every point of sales whether physical or online, people usually pull out their cards and enter their digits to complete a transaction. While we enjoy these seamless ways to checkout, many worry about the cost of such technology to the environment.
The carbon footprint of organizations, business and individuals that enjoy card technologies is often on the high side. The need for card products whose use and production process does not harm the earth is huge. This is where GreenPay comes in. This article looks at how GreenPay is transforming our choices and making it greener when it comes to payment cards and banking. And if you worried about the cost of technologies like payment cards to our beautiful earth, then you need to learn about the GreenPay project.
Our throw-away society
GreenPay is a project by IDEMIA, a giant in card payments and banking technology. The whole idea of GreenPay is about letting users enjoy their card payments and entire banking solutions in a sustainable way.
GreenPay is here to solve a big problem that already stare us in the face. We live in a throw-away society. Majority of the physical items that people use are thrown into the dumps to decay and pollute the environment. Many organizations are into into making sustainable solutions. Hence the garbage dump keeps on getting bigger with disposed items that will not decay in the next 100 years. The same is true of payment cards - both debit, credit and other types of cards.
Big payment companies make and supply all kinds of payment cards. The production processes of these cards harm the earth. When users obtain the cards from the banks, they dispose them once the card expires and collect a new one. These are harmful to the earth, increasing the rate of pollution. GreenPay is here to change the narrative with its innovative cards and banking solutions that are ecofriendly. Both the product, processes and methodologies of GreenPay are designed to have the lowest carbon footprints.
GreenPay sustainable solution
Financial institutions need to create ecofriendly products and services that customers would enjoy at no cost to the environment. Right now, it is a difficult thing. GreenPay is here to make it easy. How is GreenPay making payment cards ecofriendly, giving users an opportunity to enjoy sustainable banking? Take a look at the strategies.
1. Green Payment Cards: Majority of payment cards today are made from plastic which is one of the biggest pollutants of our time. Plastic does not decay even after so many years. When they are burned, toxic gases are released into the atmosphere in large quantities. GreenPay cards are made differently. With the abundance of disposed plastic, GreenPay cards are made from recycled PVC. Thus the entire process ensures that materials that would have contributed to pollution are put back into good use by using them as raw materials for GreenPay cards.
What happens when your payment card expires? Banks do not care about how customers dispose the cards. They are only interested in issuing new ones. GreenPay takes a different route. When your GreenPay card expires, you return it to GreenPay where it would be recycled and used to make another card. In this way, GreenPay creates a sustainable cycle of product use and contribute to ecofriendly banking.
2. Digital over paper correspondence: When you order a new card from your bank, its usually delivered in an envelop. Inside, there is a paper document from the issuing bank containing instructions about how to use the card and terms. While that seems harmless, paper is another big pollutant. Both the production process of paper and how you dispose it harms the earth. Again, GreenPay chooses a different path.
GreenPay cards are not mailed in an envelop. They are delivered in person. This reduces the need to use paper which is not a sustainable solution. Then, GreenPay sends correspondence to the customer any information regarding the card through their Email. This method again removes the need for paper and thus contributes to sustainable banking and ecofriendly solution for the card. If every bank that issues cards adopts this method, then lots of paper would not be needed to deliver card products.
3. Smallest card chips: Every card comes with a mettalic chip where the card characteristics are stored. Some cards have big chips on them. While that may look harmless, it is not. GreenPay understands that size matters. The bigger the chips, the more harm they do as they will require more resources to make them. Here again, Greenpay deviates from popular methods.
Greenpay card chip modules are smaller than you see in other cards. The module does not compromise the amount of data it stores because of its size. GreenPay simply makes less for more, thereby saving the amount of resources needed to make each card. When this is multiplied by the thousands or perhaps millions of cards they make, it becomes a sustainable production process. This is an ecofriendly way to reduce carbon footprint in the production process.
Finally
Everyone believes that sustainable solutions should be adopted across all sectors. GreenPay is pioneering this revolution in the card payments and banking sector. Their Greencard products and other banking solutions ensure that users enjoy financial services while leaving behind a small carbon footprint. Its great for the planet - and for all of us.
Want to read more about this project? Check the links below:
Note: Thumbnail is mine
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