Payments and sustainability: Eco-friendly practices in the fintech industry

As today’s young consumers increasingly prioritise sustainable and eco-friendly products, the trend presents a shift in business strategies, including payments. 

According to McKinsey & Company, products with environmental, social, and governance (ESG)-related claims grew by 56% in the past 5 years.

The World Economic Forum confirms this trend, coining global “eco-wakening” across demographics. This trend signals the fintech sector to align financial services with the values of today’s environmentally-conscious consumers by offering eco-friendly payments.

Fintech and sustainability

Recent trends are revolutionising how we see eco-friendly payments. This highlights reducing the environmental footprint associated with traditional payment methods. This particularly involves paper and plastic usage, which contributes to ecological degradation.

In the United States alone, more than 3 million trees and 9 billion gallons of water are needed to produce paper receipts annually. This generates over 4 billion pounds of CO2 and 302 million pounds of solid waste. Meanwhile, physical credit and debit cards are made from PVC, a type of non-biodegradable plastic. In 2019, 22.8 billion credit, debit, and prepaid cards were circulated, and is projected to increase to 30.6 billion by 2025.

Shifting from cash and traditional card payments to digital payments may have a positive impact. It is reported that mining minerals and transporting coins emit over 48,000 tonnes of carbon dioxide. At the same time, the shift to polymer banknotes, despite their longevity, increased pollution, more than traditional paper notes. 

Fintech innovations seem promising in terms of sustainability. Digital payments, virtual cards, and mobile wallets may positively contribute to a more sustainable financial ecosystem. This may lessen the need for manufacturing and disposal of physical cards, thus reducing waste. Also, retailers adopting digital receipt solutions further reduce the need for paper, allowing consumers to access transaction data directly through their bank’s app, promoting a move towards paperless transactions.

The shift towards digital payments reflects technological advancements and a growing consumer demand for sustainable practices. As digital payment platforms evolve, they are set to play a crucial role in mitigating the environmental effects of the financial sector.

Eco-friendly payments for your customers

  • E-wallet payments

E-wallets are becoming more popular recently. In 2022, almost half of e-commerce transactions worldwide were made using e-wallets. This trend is expected to continue, with projections suggesting that 54% of e-commerce payments will be made via digital wallets by 2026.

Countries in the Asia-Pacific and the Middle East are leading in digital wallet adoption, with high penetration rates signalling a shift towards digital payments in regions previously dominated by cash and cards.

The increasing preference for digital wallets emphasises the need for businesses to accommodate consumer payment preferences. And with its environmental benefits, like reducing the use of paper and plastic cards, e-wallets offer an eco-friendly payment option.

Integrating a solution like QashierPay can significantly enhance a business’s payment processes in the rapidly growing digital wallet market. Businesses across any industry can leverage this feature to accept popular e-wallets under the DuitNow QR network such as GrabPay, Boost, TNG e-wallet, ShopeePay, and more, all at low transaction rates. 

  • QR code payments

QR code payments offer a unique blend of sustainability, simplicity, and inclusivity in payment solutions. This technology enables customers to make payments by just scanning a QR code. This method facilitates a contactless, secure, and efficient payment process. It also significantly minimises the ecological footprint by eliminating the need for physical payment mediums and paper-based receipts.

Qashier’s DuitNow dynamic QR is an example of this solution. Incorporating Qashier’s DuitNow dynamic QR into your business’s payment options demonstrates a leap towards leveraging Malaysia’s most popular cashless payment method to ensure precise and hassle-free transactions. Qashier’s DuitNow dynamically generates a unique QR code for each transaction that corresponds with the exact amount due, eliminating the room for errors and ensuring accurate payments every time. This feature not only streamlines the payment process but also fortifies your business against the prevalent issue of customer fraud, as highlighted in the PwC Global Economic Crime and Fraud Survey 2022, particularly within the retail and consumer sectors.

The embedded adaptability of QashierPay and QashierPOS aligns perfectly with consumer preference for eco-friendly payment solutions, offering businesses a robust, future-proof payment infrastructure. This integration enhances customer satisfaction by catering to their preference for digital and flexible payment solutions. It also positions businesses advantageously in a competitive retail landscape.

  • Payment links

Payment links represent an innovative, paperless solution designed to streamline the payment process, eliminating the need for physical forms or complex checkout procedures. Businesses can provide customers with a hassle-free and secure way to make payments, simply by generating a link. This allows customers to complete transactions with just a few clicks, thus improving customer experience and supporting a more eco-friendly payment approach.

As pioneered by solutions like Qashier’s “Pay by Link,” payment links are one of the ways that the fintech industry can shift towards sustainability. By allowing merchants to send customised, secure, one-time-use payment links through various digital channels, “Qashier Pay by Link” minimises the need for paper forms and waste generation. 

Integrated into the QashierHQ back office portal, it ensures that tracking payment statuses and managing cash flow is efficient and sustainable. Offering flexibility in payment options, “Pay by Link” demonstrates that eco-friendly payment transactions can be both convenient and conscientious of our planet.

  • Issue e-invoices

Your business can contribute to a more sustainable environment by transitioning from paper invoices to e-invoices. This also eliminates the need for physical, paper documentation of sales reports, since everything will be tracked digitally. This eco-friendly approach not only helps reduce their carbon footprint but also aids in streamlining business operations.

Qashier’s Invoice Management facilitates accurate tracking of invoices, eliminating manual processes and paperwork. With this system, businesses can bid farewell to concerns about human errors as Qashier simplifies invoice management effortlessly.

Qashier e-invoicing allows merchants to issue invoices and accept online payments. Whether selling large-ticket items services or conducting remote transactions, the process is streamlined for businesses and customers. By issuing e-invoices directly to customers’ email addresses, Qashier simplifies the payment process with just a tap. This feature seamlessly consolidates payments from various channels into the same sales report, including cash, credit cards, or e-wallets. 

Qashier’s e-invoice management caters to many businesses, from brick-and-mortar retail stores to service industries, freelancers, and online shops, providing tailored solutions to meet diverse business needs. If you’re already a Qashier merchant, enabling e-invoicing is as simple as opting in via the QashierHQ portal, ensuring an affordable and efficient upgrade to your business operations.

The Cashless Future. Now.

Embracing the cashless future brings numerous benefits for businesses. Digital payment options offer convenience, enabling merchants to accept payments from anywhere, in-store or remotely. Transactions are also processed faster, enhancing overall efficiency and customer satisfaction.

Digital payments also offer security. It reduces the risk associated with handling cash and helps mitigate fraud risks. With digital records of previous transactions accessible via QashierHQ, businesses can ensure accurate and efficient financial management

By adopting digital payment solutions like Qashier, companies can streamline their operations and offer eco-friendly payment choices to their customers.


Empowering customers to make eco-friendly payment choices is a small yet impactful step towards a sustainable future. While it may seem insignificant on a global scale, the cumulative effect of such efforts can make a substantial difference over time. At Qashier, we understand the importance of environmental consciousness in today’s business landscape. Our innovative solutions are designed to help businesses seamlessly provide eco-friendly payment options. Speak to our friendly Qashier experts today to learn more about how we can support your sustainability initiatives and enhance your payment processes. Together, we can positively impact our planet while driving business success.

More about Qashier

Qashier offers multiple digital solutions, including QR code table ordering, table management (F&B), employee management, customer relationship management (loyalty programs), inventory management, data analytics, and cashless payments, in an all-in-one device.

Qashier promises a seamless setup within 10 minutes, without the need for technical expertise. It boasts a user-friendly interface that is simple for anyone to learn and use. If you require assistance, you’ll find 7 days-a-week responsive technical support from your local team.

Try the Qashier app for free on your own Android device! Alternatively, you can speak to us to see how Qashier can meet your business needs. Schedule a meeting with us here, WhatsApp (+60) 12 660 2741, or email [email protected].



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