Climate engagement fintech ecolytiq is expanding into North America following a collaboration with Canadian credit union Vancity and payments firm Visa.
Vancity has partnered with ecolytiq to provide the first Visa Carbon Counter in Canada. The ecolytiq solution combines climate awareness, education, and behavioural nudging in its tool for financial institutions.
The software calculates personal environmental impacts, such as CO2 values, on the basis of payment transactions.
From the new year, every Vancity Visa credit cardholder can track the estimated carbon emissions of their credit card purchases. Members will also be able to see how their monthly tally compares to the national average.
The Carbon Counter helps Vancity cardholders understand the carbon footprint of their purchases as well as provide advice on what they can do to reduce their emissions footprint.
“We are breaking new ground here,” said Ulrich Pietsch, ecolytiq co-founder and managing director.
“We developed a white label solution to offer financial institutions all over the world an agile and effective
way to provide their customers with tools to forge a better tomorrow. With the launch of Carbon Counter,
Vancity is solidifying its role as a leading sustainability innovator both in Canada and in the global banking
ecolytiq is also opening an office in Toronto to better scale climate action through financial institutions. T
his marks a major milestone for the Visa Fintech Partner Connect Programme member, which also helped launch Visa’s Eco Benefits Bundle last year. It joined the Visa Fintech Partner Connect programme in November 2020.