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.”

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