Visa’s European division has launched a dedicated sustainability solutions team to strengthen its commitment to greener payment practices.
Led by Steve King, this new team will work closely with clients and partners across Visa’s extensive network to develop innovative sustainable technologies that contribute to the broader payments ecosystem. Among its initiatives, the team is enhancing the existing Visa Eco-Benefits offering, which includes a carbon footprint tracker in collaboration with ecolytiq, and is focusing on creating seamless payment solutions for electric vehicle charging.
Additionally, Visa has established the Consulting & Analytics Sustainability Advisory Practice to assist clients in navigating their sustainability strategies. This includes developing tailored roadmaps and building the business case for integrating sustainable practices into their operations.
Recent research conducted by Visa across 12 European countries highlights a growing consumer expectation for corporations to lead in sustainability efforts. The findings revealed that 75% of consumers believe businesses should take charge of this change, with 46% admitting to discontinuing purchases from brands due to their negative environmental or social impacts.
Charlotte Hogg, CEO of Visa Europe, emphasized the pivotal role of the payments and financial services sector in fostering sustainable consumption and behaviors. She stated, “It is our responsibility to support the tangible transition towards net zero. The newly formed team will be essential in shaping Visa’s sustainability objectives and guiding our clients through their sustainable decision-making processes.”