Karma Wallet, a sustainable fintech platform, today announced a partnership with Marqeta, a global modern card issuing platform, to launch a prepaid debit card solution, which will empower consumers to make a positive impact on the world while managing their finances.
The planned card will revolutionize the way conscious consumers interact with their money, providing them with a unique set of benefits that contribute to a more sustainable future. The reloadable Karma Wallet Card will offer cash back with local, ethical, and sustainable merchants, provide eco-friendly rewards, and educate consumers about the social and environmental impact of the companies they shop with.
The prepaid debit card will offer cash back with sustainable brands, charitable giveback, and eco-friendly rewards
What will set the Karma Wallet Card apart is its integration with Karma Wallet's impact data platform. The platform combines 30+ data sources, millions of data points, AI algorithms, and human researchers to rate 15,000+ brands on their social and environmental initiatives. This data-driven approach allows consumers to make informed purchasing decisions that are aligned with their values, enabling them to take action with their dollars and drive positive change.
"We live in an economy that puts profit above all else. We're proud to be building a financial product in which people, planet, and profit go hand-in-hand," said Kedar Karkare, Co-Founder at Karma Wallet. "Marqeta has the experience and scale to help us bring our innovative technology to more consumers, and we look forward to continuing our work together."
The financial industry has seen many shifts recently, marked by the rise of conscious consumerism and rising purchasing power of consumers that care more about social and environmental issues.
Through a seamless user experience, secure transactions, and sustainability rewards made possible by Marqeta's platform, the Karma Wallet Card will help users take control of their financial decisions and contribute to the change they want to see in the world.
"We are proud to partner with Karma Wallet to support the launch of a sustainable prepaid debit card, enabling them to create customized payments experiences for their customers with Marqeta's flexible platform," said Todd Pollak, Chief Revenue Officer, Marqeta. "This partnership reflects our deep appreciation and support of eco-conscious solutions and empowering individuals to make a positive impact on the environment while managing their finances."