9 of 10 Singaporeans think cashless payments are most eco-friendly
This includes cards, mobile wallets and mobile banking.
Nearly 90% of Singaporeans consider cashless payments to be the most eco-friendly, a Visa study found.
The report also found that 6 out of 10 are keen on seeing physical cards made out of sustainable materials; whilst nearly half (45%) are willing to donate part of their loyalty rewards points.
Consumers were most interested in organisations involved in climate change (43%), sustainability (38%), and waste management (34%), the report also found.
Moreover, consumers also look to societal causes with 30% saying they are most likely to put their loyalty points towards efforts that support food for all, whilst others consider disaster recovery (22%) and public health (20%).
“For many years now, ESG has been a key focus for corporations globally, but we are seeing more consumers in Singapore becoming more interested in sustainability,” Adeline Kim, Visa Country Manager for Singapore & Brunei, said.
“From supporting low carbon urban mobility to helping banks develop their sustainability approach, payments networks have an opportunity to play a crucial role in facilitating the transition to net zero. As the network works for everyone, Visa is well-positioned to meet consumers’ needs and demands for greater transparency and understanding of their environmental impact.”