FinTech Magazine January 2020 | Page 42

BANKING
42 a strong example of that ,” he told us of Meniga and the UN ’ s collaboration . The basis for the service is the cashback rewards that Meniga ’ s Rewards app offers through dedicated banking partners , with the view that channeling cashback towards investment in climate friendly projects could make a substantial positive impact . Users can donate their rewards to UN Climate Change certified projects , including initiatives in Malawi and India , which aim to reduce , avoid or remove greenhouse gas emissions .
“ It ’ s a really great motivator for people , and a good way of making their money – and how they use it – become more meaningful ,” Harper explained .” Even if you receive , say , 10 euros a month in cashback , if you know that it ’ s going to a good cause without you actively having to take any action , then the value of that cashback becomes far greater .” According to Harper , 20 % of users have signed up to donate to the cause , which he described as “ higher than I anticipated , but a real validation of where people are at – it ’ s
JANUARY 2020