Up Romania introduces carbon footprint calculation for transactions with Up cards through Ethoca Consumer Clarity™

Up Romania announces the implementation of a new carbon footprint calculation service for Up Romania’s cards transactions, using the innovation of Ethoca Consumer Clarity™. This initiative marks a significant step forward in providing an enhanced digital experience and aligning with the preferences of Up Romania’s card users. The Ethoca Consumer Clarity Carbon Footprint Calculation has been developed for Mastercard using Doconomy’s Åland Index.

According to a recent survey conducted by Aite-Novarica, 88% of consumers prefer to receive digital receipts in their digital banking apps, and 75% consider it very important for web or mobile banking apps to be user-friendly. In a world where 80% of the top 250 companies now have goals for reducing carbon emissions, Up Romania responds to these heightened consumer demands by introducing Ethoca Consumer Clarity™.

In the context of a modern world characterized by rapid technological innovations and profound changes in consumer behaviour, Up Romania recognizes the importance of adapting and offering sustainable solutions to address global environmental challenges. In the face of constantly rising consumer expectations and the rapid evolution of digital commerce, carbon footprint calculation becomes an imperative necessity. By implementing Ethoca Consumer Clarity™, Up Romania not only meets its customers’ increased demands for transparency and clarity in transactions, but also demonstrates a strong commitment to reducing ecological impact.

In an era where 80% of the top 250 global companies aim to reduce carbon emissions, Up Romania joins the collective effort to create a more responsible and sustainable financial environment, contributing to reducing the negative effects on the environment through education and providing consumers with tangible tools to make informed decisions about their purchases.

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Ethoca Consumer Clarity™ enhances the experience for Up Dejun, Up Cadou, Up Cultura, and Up Vacanta cardholders, by providing an estimate of the carbon footprint for each transaction made with Up Romania’s cards at merchants in Romania, educating consumers on managing their purchases.

By implementing Ethoca Consumer Clarity™, Up Romania demonstrates its commitment to providing a superior digital experience, reducing chargebacks and fraud, and remaining competitive in the ever-changing digital landscape.

“To meet the increasing expectations of our customers and to cope with rapid changes in the digital ecosystem, we are excited to introduce Ethoca Consumer Clarity™ to improve the transparency of purchases and provide a comprehensive transaction management experience for our customers,” stated Ionut Condruz, Chief Strategy & Operating Officer Up Romania.

Ethoca Consumer Clarity™ offers significant advantages, including data protection, multiple channels for enhanced purchase details.

“By connecting merchants and issuers, Ethoca Consumer Clarity enhances the cardholder experience with enriched transactions and purchase information shared via issuers’ digital banking apps. This includes details like clear merchant names and logos, geolocation data, fully itemised receipts, subscription controls and the carbon footprint of purchases made. From now on, Up Romania cardholders will be able to see in the Up Mobil Pay app the carbon score for each of their transactions, and thus the environmental impact of their purchases. With this feature, Mastercard is equipping its global network to be a positive force for the environment and inspire cardholders to make practical and simple modifications leading to more mindful spending”, said Elena Dincă, Head of Sales for Financial Institutions, Merchants and Government Segments, Mastercard.