Finnish fintech ReceiptHero is to donate $1 to conservation charity One Tree Planted for every new merchant that joins the digital receipt platform, setting a five-year goal to plant one million trees.
ReceiptHero sends digital receipts from point of sale systems directly to the customer’s bank app or approved third party application. The startup boasts partners such as Nordea, Poplapay, Solteq, Visma and Verifone.
One Tree Planted has been working since 2014 to combat deforestation across the globe. The charity notes that 35% of trees that are chopped down are processed into pulp for paper to make products such as receipts, a practice that ReceiptHero wishes to eradicate.
Joel Ojala, CEO, ReceiptHero says: “We are thrilled to be partnering with One Tree Planted and to integrate tree planting into our business. It goes without saying that cutting down 100s of millions of trees a year just to produce paper receipts is just ridiculous and it needs to stop. We hope that by donating to One Tree Planted we can do our part by reforesting critical areas of the planet. Our goal is to plant one million trees by 2025.”
Dutch digital bank Bunq introduced a similar tree-planting inducement late last year for users of its Bunq Green Card. For every $100 a customer spends on the card, Bunq plants a tree to encourage users to offset their carbon footprint. In conjunction with Eden Reforestation Project, Bunq customers planted 40,000 tress during the initiative's first two months.
Finextra Research and ResponsibleRisk will be focusing on sustainable finance in investment and asset management at the second SustainableFinance.Live Co-Creation Workshop in March 2020.
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