YAYZY rolls out new iOS app to track carbon emissions of spendings
By Megha Bhattacharya
London-based FinTech YAYZY has launched an app to help users to off-set carbon emissions using open banking-enabled payments data. The FinTech, established in 2019, aims to offer users the ability to know the carbon footprint of their spends by showing them the emissions of each purchase in real-time. Users can immediately connect their spending to the environmental impact they will leave behind on the planet.
Mankaran Ahluwalia, co-founder and CEO of YAYZY said, “COVID lockdown gave us a rare glimpse of what a low carbon future could look like as NASA satellite images revealed massive drops in carbon pollution and beautiful clear skies. While emissions have gradually risen as lockdown eases, YAYZY wants to put us all in the driver’s seat to control our own environmental impact and collectively work together in a journey to keep carbon emissions below the 2-degree target.”
YAYZY stated that the new iOS app uses payment data via Open Banking standards to automatically calculate the carbon footprint of each purchase a user makes, giving them a picture of their total monthly carbon emissions. Users can also find tips to reduce their carbon footprint, eco-friendly retailers near them or insights into lifestyle choices that have the highest environmental impact.
The FinTech is using Vital Metrics, as used by Google, Microsoft and both the U.K. and U.S. governments, among others for its underlying carbon data.