Accelerating the decarbonisation of payments: towards 1g CO2 per transaction.| White paper

25 / 03 / 2024

As global efforts to reduce carbon emissions gain momentum, the decarbonization of payment systems has become an urgent challenge. Worldline stands at the leading edge of this movement, having initiated thorough life cycle assessments (LCAs) to assess the environmental impact of payment transactions. This report delivers an analysis of strategies to refine payment processes, aiming to limit emissions to just 1g of CO2 equivalent per transaction, leveraging insights from our LCAs. It concludes by outlining recommendations toward achieving sustainable payment practices.

1 min.

In-store payments Gateway Nachhaltiges Bankwesen Zahlungen CSR Online-Zahlungs-Gateway

Accelerating the decarbonisation of payments

Our analysis delves into the transformative road to greener financial transactions, offering you actionable insights and forward-thinking strategies to minimize carbon footprints and lead the charge in sustainable commerce.

This paper uncovers the following:

Digital and environmental transition of payment systems:

Discover the dramatic shift from cash to digital payment methods accentuated by the Covid-19 pandemic and understand the environmental considerations including not just the physical components like bankcards and terminals, but also the hidden impacts involving networks and data centers required for digital transactions.

Life Cycle Assessments unveiling environmental footprints:

Gain insights from Life Cycle Assessments (LCAs) comparing the carbon footprint of in-store card transactions to their online counterparts, and to cash transactions. We discuss the comparative impacts and offer a unique perspective on the environmental cost of payment methods.

Achieving the 1g CO2 target per transaction:

Delve into the feasibility of achieving payment transactions with as little as 1g of CO2 emissions. The study highlights the significant reducing potentials through eliminating printed receipts and, in the long term, potentially replacing bankcards with smartphone technology, leading to significant environmental savings.

Next Steps for eco-conscious payment transactions:

Learn about the identified strategies for optimizing payment methods to favor the environment. From banks extending the life span of cards and terminals to retailers abandoning printed receipts, we discuss the multifaceted approach needed to decarbonize payments effectively.

The findings of this paper underscore a crucial pivot point for payment systems worldwide. With the goal of reaching unparalleled efficiency and environmental savings, our actions today can lead to a more sustainable tomorrow. As we stand on the brink of advancing payment technologies, we have the power to steer the financial sector towards practices that not only benefit consumers and stakeholders but also safeguard our planet.

Join us in our mission.

Explore the potential and participate in the transformative journey towards decarbonizing payment systems.

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Susanne Stöger

Head of Communication Merchant Services / Head of Communication DACH Region

presse_worldline@worldline.com

+43 (0)1 71701 6524