PayGreen: a Social, Environmentally-Friendly Approach to Payments
The e-payment FinTech PayGreen highlights a full-responsive transformation through featuring two new solutions. This company builds on an energy and ecological transition, to enhance the payment step. The idea is to enable e merchants to assert their customers’ loyalty while improving their brand image.
PayGreen partnered with the social start-up microDon to design an online solution enabling e-purchasers to round up their payment to the next euro. The addition is then sent to an association or social institution. To date, this solution has been rolled out by roughly 3,000 customers.
Their second innovation, called Tree, is an algorithm intended to calculate carbon emissions owed to ordering online. The customer can send the equivalent amount to a French association for reforestation.
Their rounding up system and carbon footprint assessment tool allowed the start-up to be included in the FinTech incubator, Swave. PayGreen will then be able to aim for larger groups and strengthen their position as a leading “Green FinTech”.
Comments – More than just payments…
PayGreen stands out as the first payment solution to rely on advertising a positive social and environmental impact on the French e-commerce market. They expect this new brand image to help speed up their growth on the e-payment market.
These initiatives are highlighting ambitions on the part of this start-up: more partnerships and additional value for their e-payment service. This FinTech also partnered with S-money, Monext and Payline on improving security aspects. PayGreen is also working on next-generation technologies, including the Blockchain, to improve the security of monetary exchanges.
The FinTech has been selected by the French Chambers for commerce and industry (CCI) at their CCI Findays: an occasion for PayGreen to meet investors. Eventually, they claim they are also discussing with banking players who may want to work with them on implementing social innovation in the banking sector.