Ripple customer Nium, which offers services with B2B payments around the world, is collaborating with green fintech firm Tred, based in the U.K., to create a card that will enable users to make payments and reduce the level of their CO2 footprint, using a new green debit card.
Nium and Tred are following the green trend
In a recently published press release, Nium has shared the news of its recent partnership with the green fintech Tred that allows users to watch their spending and track their carbon footprint at the same time.
The option of planting trees with the profits comes as a bonus here.
The market for green fintech services is growing, with the financial sector also joining the trend as companies wish to retain old customers and land new ones by supporting sustainable energy and other eco-trends.
Since the beginning of 2021, Tred has grown over 120 percent. The company's recent fundraising round has brought in one million pounds sterling from more than 1,000 investors.
Nium to issue the card, Tred will make it "green"
Ripple customer Nium will emit the card and ensure Tred has a U.K.-issued consumer bank identification number with settlement in GBP. It will also ensure transaction processing and provide e-wallet services.
Card users will also be able to make secure payments via Nium's other solutions online or in-store.
Tred will come up with bonus and reward programs for users that are focused on the development of a social and environmental ethos. Besides, every transaction made with that card will fund reforestation projects.
As for Nium, it will be donating a fraction of the interchange fee to the tree planting initiative of its partner in this business project.