In collaboration with Doconomy, Mastercard Future of Sustainable payments launches.

The partnership will offer a new mobile banking solution, which will enable uses to track, understand and lower carbon footprint.

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Dubbed DO, the new offering will roll out this April. It is hailed as a “major step” in Mastercard’s effort to combat climate change.

The mobile app also supports carbon offsetting through UN certified projects.

With DO, users will also gain exposure to sustainable funds.

The aim is to enable values of users guide their consumption towards green choices.

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Doconomy CEO Nathalie Green said: “Via Mastercard’s global network Doconomy can reach and leverage the power of consumers all over the world and direct capital towards sustainable initiatives.

“For us, there is no partner better suited than Mastercard, given their sense of purpose and leading technical expertise.”

Users of the app can also avail the biodegradable DO Mastercard payment card.

Lacking magnetic strip and printed with recycled pollution (Air-Ink), the card is touted as the first of its type across the globe.

Mastercard divisional president of UK, Ireland, Nordic and Baltics Mark Barnett said: “This collaboration is an important part of our focus on sustainability, and this innovative solution offers people a simple way to take responsibility for their carbon footprint, based on what they consume.”

The latest move comes four months after Mastercard’s partnership with card manufacturers Gemalto, Giesecke+Devrient and IDEMIA to promote sustainable payments.

Moreover, one of the key goals of the alliance is to lower first-use PVC plastic in card manufacturing.