Alina Oprea • 28 December, 2023 at 1:15 PM
Up Romania has announced the implementation of the new carbon footprint calculation service for Up card transactions, using the Ethoca Consumer Clarity™ innovation. Ethoca Consumer Clarity's carbon footprint calculation was developed for Mastercard using the Åland Index, launched in partnership with Doconomy. This project is of major importance because it strengthens the Up group's business strategy of supporting responsible consumption, the company states.
The Up Romania cardholders will be able to view in the Up Mobil Pay application the carbon score for each of their transactions and, thus, their impact on the environment. With this option, Mastercard strengthens its position in favor of the environment and encourages cardholders to adopt practical changes for more responsible spending.
According to a recent survey conducted by Aite-Novarica, 88% of consumers prefer to receive digital receipts in their digital banking applications, and 75% consider it very important that web or mobile banking applications are easy to use. 80% of the largest 250 companies now have objectives for reducing carbon emissions, Up Romania shows.
"In the context of a modern world characterized by rapid technological innovations and profound changes in consumer behavior, Up Romania recognizes the importance of adapting and offering sustainable solutions to face global environmental challenges. By implementing Ethoca Consumer Clarity™, Up Romania not only responds to the increased demands of its users for transparency and clarity in transactions but also demonstrates a firm commitment to reducing the ecological impact", states the company.
80% of the largest 250 global companies aim to reduce carbon emissions, and Up Romania states that it joins the collective effort to create a more responsible and sustainable financial environment, contributing to reducing the negative effects on the environment through education and offering users tangible tools to make informed decisions about their purchases.
"We are happy to be the first issuer to empower Up Mobil users to act responsibly in a new and authentic way. The first step is to raise awareness of the impact each transaction has so that we can further adapt behavior to reduce our carbon footprint as much as possible. With this innovation, we respond to the growing expectations of our customers to work with responsible partners and create a more sustainable future. Through Ethoca Consumer Clarity™ we improve purchasing transparency and offer a complete transaction management experience for users of the Up Mobil application", said Ionuț Condruz, Chief Strategy & Operating Officer of Up Romania.
Ethoca Consumer Clarity™ improves the experience of Up Breakfast, Up Gift, Up Culture, and Up Vacation cardholders by providing an estimate of the carbon footprint for each of the transactions made with Up cards at merchants in Romania, to educate consumers on the management purchases.
“By connecting merchants and issuers, Ethoca Consumer Clarity enhances the cardholder experience with detailed transaction and purchase information shared through issuers' digital applications. These include details such as merchant names and logos, geolocation data, fully detailed receipts, subscription control, and the carbon footprint of purchases made," said Elena Dincă, Head of Sales for Financial Institutions, Merchants and Government Segments, Mastercard.
Up Romania is part of the Up Group, it serves over 25,000 clients and over 800,000 beneficiaries. It has a presence in Romania for 20 years.