Cards & Payments
Advancing climate action with every transfer, payment, and card swipe
How can we more accurately measure a consumer’s carbon footprint (potentially including the entire supply chain transaction) and distill this information for consumers in a simple, digestible, actionable way?
How do we incentivize cardholders to compensate for their carbon footprint and enable them to take action to mitigate their impact?
How do we change consumer behavior patterns and promote more climate-positive choices? (using education, gamification, nudges, positive affirmation, tips and techniques, etc.)
How might we offer rewards and benefits that are tailored/personalized to the specific climate actions the cardholder feels are most aligned to their values? (e.g., investment in renewable energy, carbon-neutral travel, sustainable fashion, etc.)
How might we provide the right information at the right time (point of transaction) to empower consumers to make better informed spending choices?
How can we use data-based product solutions to make carbon credits more accessible, standardized, and transparent with respect to their risk profile?
How can we use Open Banking to give consumers a more complete picture of their total financial profile and climate impact?
How can banks deepen the capabilities and maximize the appeal of card products and payments systems to help co-branded retail and travel partners develop expertise and take climate action?
How might we help corporations enable their employees to adopt more green spending behaviors?
The Challenge will guide both entrepreneurs and intrapreneurs during a 3-week sprint, exposing participants to mentorship, matchmaking, and technologies from our strategic partners, including some of the largest players in credit cards and payments. This is an unprecedented opportunity to secure outside investment and POCs in such a niche, burgeoning space.
A lot has changed since the fintech boom of the 2010s and the subsequent genesis of innovation, new business models, new user experiences and the formation of new companies.