De Montessus continues : “ Sustainable protocols in eco-friendly payments involve minimising the environmental impact of payment processes .
“ This includes transitioning to renewable energy sources for transaction validation , reducing paper usage , promoting carbon offset initiatives and alternatives to first-use PVC plastic payment cards .
“ The increased adoption of biodegradable cards , as well as digital and contactless payments , will ultimately lower resource consumption in comparison to cash and plastic cards .” What ’ s more , payments software providers can also look to implement digital receipt options to drive down the use of paper by retailers .
“ This is something acquirers like Worldpay can offer merchants – solutions for e-invoicing ,” De Montessus adds .
He concludes : “ Collaboration across the industry to establish standardised eco-friendly practices and raising awareness among consumers about the environmental impact of their payment choices are crucial for fostering a sustainable payments ecosystem .”
So , by adopting the latest technologies in payments and offering leading fraud prevention services , payments providers can work towards a consumer-friendly , sustainable future for payments .
108 April 2024