Ripple Client Nium Partners with Tred Fintech to Issue UK’s First Green Debit Card

Ripple Client Nium Partners with Tred Fintech to Issue UK’s First Green Debit Card

B2B payments provider Nium has teamed up with Tred to create a green debit card to launch in the UK

Ripple customer Nium, that offers services with B2B payments around the world, is collaborating with the green fintech firm Tred, based in the UK, to create a card that will enable users to make payments and reduce the level of their CO2 footprint, using a new green debit card.

Nium and Tred are following the green trend

In a recently published press-release, Nium has shared the news of its recent partnership with the green fintech Tred that allows users to watch their spending and track their carbon footprint at the same time.

An option of planting trees with profits comes as a bonus here.

The market for green fintech services is growing with the financial sector also joining the trend as companies wish to retain old customers and land new ones by supporting sustainable energy and other eco-trends.

Since the beginning of 2021, Tred has grown over 120 percent. The company’s recent fund raising round has brought them 1 million pounds sterling from more than 1,000 investors.

Nium to issue the card, Tred will make it “green”

Ripple customer Nium will emit the card, ensure Tred has a UK-issued consumer bank identification number with settlement in GBP. It will also ensure transaction processing and provide e-wallet services.

Card users will also be able to make secure payments via Nium’s other solutions online or in-store.

Tred will come up with bonus and reward programs for users that are focused on social and environmental ethos. Besides, every spend made with that card will fund projects to do with reforestation.

As for Nium, it will be donating a friction of the interchange fee to the tree planting initiative of its partner in this business project.

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