British fintech Tred has tapped B2B payments firm Nium as its card-issuance partner for its green debit card.
Nium will offer the fintech firm a UK-issued consumer BIN (bank identification number) with GBP settlement.
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Besides, it will manage processing as well as e-wallet services.
The card-issuance service will target UK residents. Users of Tred Card can pay online or in-store with Nium’s solutions.
Tred co-founder Peter Kirby said: “These debit cards work seamlessly alongside the Tred app and help us achieve exactly what we set our minds to: to help people manage their money in a way that’s good for them and the planet.
“Every time our customers use Tred cards, they’ll help us plant trees and will contribute to a better future for our planet.”
The Tred green debit card will enable users to watch their spending and track their carbon footprint, and plants trees with profits.
All users will get a virtual card for e-wallet payments by default, and have to opt in for a physical card of recycled plastic.
As for Nium, it has pledged to donate a percentage of the interchange fee to the tree planting programme of Tred.
Last month, Australian lender Gateway Bank launched an eco-friendly debit card as part of its sustainability efforts.
The body of the card is made of bio-based and degradable polymer Polylactic Acid (PLA). The card is said to use 65% less energy during production compared to traditional plastic cards and generate 68% fewer greenhouse gases.
The same month, Société Générale partnered with augmented identity technology provider IDEMIA to offer its first ever Visa-branded recycled plastic payment card range.
Earlier this year, UK challenger Starling Bank launched debit cards made from recycled plastic.
