Bank al Etihad partners with Visa for carbon insights tool

• In-app tool for customers
• Track spending’s carbon footprint
• Encouraging greener choices

Jordan’s Bank al Etihad has partnered with Visa to offer a carbon insights tool within its app.

The bank says the tool, developed by German fintech ecolytiq, gives customers information about their carbon footprint based on debit and credit card transactions.

Ecolytic’s product is intended to increase consumer spending while encouraging them to make “greener choices”.

The tool uses localised data for each country to calculate carbon footprint.

In addition to the carbon insights tool, Bank al Etihad customers will also be given access to climate education content and sustainable living recommendations.

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The core of ecolytics’ offering is that it works to “channel consumer demand for sustainability into positive outcomes for both the environment and business growth.”

Ecolytics says its tool, which it provides to banking customers around the world, encourages users to decrease their emissions intensity by 5 percent, while increasing weekly transactions and boosting weekly spending by 15 percent.