Sustainability paytech Helpful’s digital wallet cuts transaction CO2 by 80%
UK-based sustainable paytech Helpful has launched a digital wallet it claims can save up to 80% on the CO2 emissions created from transactions.
The digital wallets leverage open banking and are designed to help businesses make their checkouts faster as well as greener.
Helpful says the average amount of CO2 every checkout payment produces is 3.78g, which multiplied by the number of transactions that consumers make each year means the CO2 produced is “considerable”.
Helpful CEO Evan Michaels says: “A net zero future requires solutions that help businesses reduce the carbon footprint of as many aspects of their operations as possible.”
Open banking means transactions are conducted faster and with lower transaction costs, which in turns support businesses growth and boosts profit margins.
The wallets work alongside existing payment options at checkout and are easy to integrate with zero set-up costs and low transaction fees.
Railsbank COO of UK and Europe Louisa Murray says: “The world is changing fast and customers are demanding more, not only from the products they buy, but also from the way they interact with the brands they love.”
Helpful cites research which estimates that 75% of all global payment transactions by 2026 will be done by open banking direct payments, with a projected market value of $116 billion.