HSBC, ecolytiq and Visa have received the "Sustainable Payments Award" at the 2024 Payments Awards by FStech and Retail Systems – for the work on HSBC UK’s Carbon InsightsTool for Kinetic small business customers.
Over 99% of businesses in the UK are SMEs (Source: UK Department forBusiness and Trade 2023 Census), and therefore play a significant role in the private sector as the UK works to achieve its Net Zero goal by 2050. While at the same time, research shows that SMEs lack the tools and knowledge to get started on sustainability initiatives.
HSBC UK’s Carbon Insights tool, developed in partnership with ecolytiq and Visa, helps fill this gap. Carbon Insights enables HSBC Kinetic customers to view the estimated CO2e values of their HSBC Kinetic Debit Card transactions on a user friendly dashboard in their HSBC Kinetic app. Customers who opt-in to Carbon Insights can access a summarised breakdown by expense categories. In addition, the tool provides helpful suggestions on how they might be able to manage their missions. This is a feature available to HSBC Kinetic customers completely free of charge.
HSBC, ecolytiq, and Visa were also finalists in four other categories: Best Use of AI and Data in Payments, Payments Innovation of the Year, Social Inclusion Project of the Year, and Customer Experience Innovation Award.
This marks the second award received for the partnership this season, the first being "Best Bank and PayTech Partnership" at the 2024 PayTech Awards (read more here).
View the full list of winners.
Read the official press release of the HSBC UK Carbon Insights tool.
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