In the UK and much of Europe, debit and credit cards have long been the default – and sometimes the only – payment method available to ecommerce customers. In 2020, only debit card payments alone amounted to 36.5 billion according to UK Finance.
Negative impact of plastic banking cards on our environment
Besides the fact that the aging card payment infrastructure comes with a lot of friction, chargebacks, fraud and associated expensive costs, most plastic banking cards also significantly contribute to a major plastic pollution problem. Most plastic cards are made of PVC (polyvinyl chloride), a sturdy plastic material that’s quite difficult to recycle. Because most recycling stations won’t accept plastic cards, several millions of them end up in our landfills and oceans each year.
When plastic cards are left to accumulate in the environment, they break down into micro-plastics that harm human and animal health. Dyes and inks that wash off cards may also seep into groundwater reservoirs and pollute freshwater sources.
Sustainability: Account-to-account payment – how to make a change
Without any intervention, our card waste problem could soon spiral out of control. ShoppingOS collaborated with Treepoints to enable more users in the UK to adopt open banking payments by testing live payment with a minimum of £1, all donations go to Treepoints to facilitate more tree planting. There are now more than 5 million active users of open banking services in the UK as at January 2022, ShoppingOS aims to increase open banking users to about 18 million in the next coming months.
Test open banking payments with ShoppingOS donate a minimum of £1 to plant a tree.
Treepoints is taking a revolutionary new approach in the fight against climate change. The UK-based startup is on a mission to simplify climate action, helping people and businesses to understand their impact on the environment and then actively do something about it by reducing their carbon footprint.
ShoppingOS is a no code account-to-account payment platform for e-commerce merchants, our open banking technology bypasses card networks to allow customers to pay merchants directly from their bank account.