PayU India joins Footprint Lab to foster carbon neutrality in the FinTech Industry

By Gloria Mathias

PayU, India’s online payment solutions provider has collaborated with Australian cleanTech startup Footprint Lab. This partnership will enable customers to directly contribute to a more sustainable future while making everyday online transactions.

As a part of PayU’s checkout experience, users will now be presented with the option to make a one-step carbon offset.

Vineet Sethi, SVP – Diversified Financial Services at PayU India said, “Climate and other ESG impacts are driven by our consumption behaviour, yet we often lack guidance to inform our purchase decisions on easy ways to take climate action. By integrating ESG data into everyday financial transactions, we are focused on addressing these gaps and streamlining the process.”

“This reflects our commitment to sustainability and responsible financial practices. It also aligns with the Indian government’s vision to foster a responsible financial ecosystem focused on inclusivity and sustainability, “ added Sethi.

“FinTechs like PayU are ideally placed to become GreenTechs since they have extraordinary insights into consumption patterns. When that data is enriched with ESG information, it becomes easy to calculate carbon footprints and contribute to the burgeoning carbon offset market in India,” Janet Salem, Co-Founder – FootprintLab added.

PayU is regulated by the Reserve Bank of India and has advanced solutions to meet the digital payment needs of the Indian market. PayU India aims to create a full-stack digital financial services platform to serve all (tapped and untapped) financial needs of customers (merchants, banks, and consumers) through technology.

It enables businesses to collect digital payments through online payment methods such as credit cards, debit cards, net banking, EMIs, BNPL, QR, UPI, wallets, and more. It is a preferred partner in the affordability ecosystem, offering the maximum coverage of issuers and easy-to-implement integrations across card-based EMIs, pay-later options and new-age cardless EMIs. PayU offers merchants industry success while ensuring a seamless checkout experience.