Money20/20: Giesecke+Devrient on payments greenwashing

FinTech Magazine catches up with Global Head of Client Services for ePayments at Giesecke+Devrient (G+D), Chitua Kalio, who discusses the scope of greenwashing in the global payments ecosystem, and the things to look out for in your choice of banking partner. 

For Kalio, fintechs and banks must think about what their sustainability strategies are, and how to action them, rather than just make claims about strategy without a solid plan in place. 

In addition, Kalio believes anyone looking to partner with a supplier or any other financial institution should seek evidence, or data, to validate sustainability claims. 

An example is Mastercard’s validation of G+D’s recyclable PVC cards with eco-certification. Kalio notes: “This means we have a badge, we have third-party verification to help confirm that the claims that companies are making are actually valid ones.”

By making validation a point of importance, and a key step in the sustainability process, financial companies can best combat greenwashing in the industry. 

For more from Kalio, see the video above, or you catch our discussion with her on LinkedIn here.