European Banking as a Service (BaaS) platform Intergiro has teamed up with Swiss payment solution Retreeb to launch a sustainable payment solution across Europe.
Retreeb has built a payment solution that aims to help consumers support social causes. Its payment model distributes 33% of revenue towards CSR initiatives.
Through the partnership, Intergiro will supply Retreeb with off-chain financial flow management services in the Eurozone. This will enable the PayTech company to create Euro accounts for its users and offer an enhanced payment experience.
Intergiro’s services are offered via API and cover the entire payment value chain and are backed by a Swedish electronic money (EMI) licence. With this licence, Intergiro and its partners can serve the European Economic Area as a payment’s provider and electronic money institution. Due to this, Retreeb is now licensed to deploy its solutions throughout Europe.
This partnership also aims to bolster Retreeb’s ‘blockchain for good’ mission, which aims to transform the finance industry’s aim from ‘make as much profit as possible’ to ‘make as much profit as possible to share.’
Intergiro CEO Nick Root said, “We are excited to be working with Retreeb and committing our efforts into creating more sustainable payment options. Fintech innovation is constantly evolving to help make a real impact on the world and help influence individuals to make the right environmental, social and financial decisions, and that is exactly our focus with this new partnership with Retreeb.”
In other ESG FinTech news, RenewWest, an environmental asset developer, secured $3.2m in its seed funding round, which was led by Aspiration and One Small Planet.
Elsewhere, the Canadian government issued new standards that would require large suppliers to disclose their GHG emissions and set targets to reduce them.
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