New Energy Nexus, a global network that supports accelerators and funding for climate solutions, has officially launched its Climate Fintech: Cards & Payments Challenge. This initiative fosters collaboration between multinational financial institutions and fintech innovators, aiming to support startups that develop digital financial solutions targeting climate issues.
The C&P Challenge has garnered support from prominent organizations, including Barclays US Consumer Bank, Rise, Mastercard, Doconomy, and Patch.
Danny Kennedy, CEO of New Energy Nexus, expressed excitement about the endeavor: “We are thrilled to introduce the Cards and Payments Challenge, alongside our exceptional partners, to empower fintech startups that are focused on advancing equitable decarbonization.”
The challenge invites applications for a variety of climate fintech solutions while emphasizing decarbonization and environmental stewardship. Key areas of focus include:
– Retail and commercial carbon accounting and footprinting
– Sustainable eCommerce connectivity
– Green digital wallets and mobile payments
– Sustainability gamification and incentivization
– Reward programs and benefits geared towards emissions offsetting or renewable energy
– API integration and “Green Open Banking”
– Development of a user-friendly “Green Score” and consumer education
– Blockchain and distributed ledger technology applications in sustainability
– Insurance and related products
– Enhanced integration with online banking and investment solutions
A total of over $100,000 in cash prizes will be awarded to the winners. The application deadline for interested participants is October 1, 2021.