Kani Payments today announced a partnership with Earthchain, an API-powered digital carbon marketplace, enabling Kani Payments’ clients to show customers the real-time carbon footprint associated with every purchase they make at checkout.
By enhancing our award-winning data reconciliation platform with Earthchain’s carbon-conscious business intelligence insights, Kani Payments will help its payments and fintech clients to tap into growing demand from consumers to track the climate impact of their purchases. Kani and Earthchain will also enable merchants and payment processors to demonstrate their commitment to climate change and fund carbon-conscious projects at scale.
This partnership comes at a critical time with the effects of climate change galvanising consumers and businesses to reduce their carbon footprints. The United Nations has declared 2021-2030 the Decade of Action, and Kani Payments and Earthchain are stepping up to this challenge by offering a transparent and accountable solution that will enable individuals and businesses to take meaningful action towards a more sustainable future.
With 62% of Gen Z shoppers preferring to buy from sustainable brands and a staggering 73% willing to pay more for sustainable products, according to a report from First Insight, there has been increasing pressure on fintech companies and financial institutions to provide sustainable solutions. In addition, investor and regulatory bodies around the world are pushing ahead with mandates requiring companies to reduce their environmental impact, with 82% of investors saying that ESG needs to be embedded in corporate strategy, according to PwC.
Earthchain’s Carbon Intelligence platform and APIs enable businesses to support decarbonisation projects around the world and embed emissions insights and climate contributions into their products and services, all whilst reporting on their collective impact with confidence. Financial services institutions, fintechs and payments companies can give customers the insights to identify where they can make the most effective changes to purchase more sustainably.
Aaron Holmes, Founder and CEO of Kani Payments, says: “We know that consumers are increasingly demanding climate-conscious actions from the businesses they transact with. To prepare for this changing landscape and provide future-proof value-added services to its clients, Kani Payments’ partnership with Earthchain is creating even more compelling and value-added services for our customers. By integrating Earthchain’s unique carbon intelligence capabilities into our platform, we’re empowering our clients to take proactive climate action.
“This partnership demonstrates that Kani Payments is prioritising tangible business intelligence insights that align with global climate action targets. By working together with Earthchain, Kani Payments can take proactive strides to achieve our own ESG goals as well as encourage our climate-aware clients, including payments companies, neobanks and processors, to do the same for their customers.”
Mike Barlow, Co-Founder and Head of Growth at Earthchain, comments: “Our ultimate goal is to educate fintechs and financial institutions to help change consumer behaviour and reduce the impact businesses have on the environment. This partnership with Kani Payments is the next step on our journey, and we’re delighted to be able to work with Aaron and the team to create a unique carbon reduction tool based on their needs.
“Earthchain is different to other providers as we tailor our integrations to each of our clients’ needs, including the ability to provide recommendations based on online purchasing history, advice on how they can reduce their carbon footprint as consumers or as an organisation, and real-time tracking of their impact and climate project portfolios.”
Kani Payments’ data reporting and reconciliation platform has been built by payments experts and is designed to help ambitious, disruptive companies to fuel future growth with streamlined reporting, actionable business intelligence insights, and achieve compliance with industry and regulatory requirements.
Kani Payments’ agile data-agnostic platform quickly ingests data from multiple processors, banks, and payment companies, significantly speeding up reporting and account onboarding, and expeditiously imports and reconciles raw data files in different formats to create understandable reports and timely reconciliations. Kani Payments’ reconciliation software also integrates directly with its clients’ third-party processing platforms, and is backed by friendly, in-depth payments expertise support to help solve clients’ data queries.
To date, Kani has reconciled more than €24 billion in processed payments volume through our scalable platform that can be used by companies from scale ups through to enterprise level, right across the fintech spectrum, and has forged relationships with companies including Transact Payments, IDT, Moorwand, Sodexo, and Osper.
After announcing our acceptance onto the Mastercard Start Path Global programme in 2022 and more recently this month, the FIS FinTech Accelerator, we plan to build on this success throughout 2023 by continuing to bring automation, accuracy and compliance to reconciliation and reporting to payments institutions worldwide – and Earthchain’s Carbon Intelligence platform is an important step in this growth trajectory.