Lanistar is Making Room For An Environmentally Friendly Payment Method
It is news to no one that contemporary industry has affected our climate extensively for decades. However, this is also leading to change- companies like fintech startup Lanistar, for example, are trying to do their part to make positive changes.
But, just how can a payment card be environmentally friendly, and why is it crucial for everyday consumers to take note of these changes? Continue to read to find out what Lanistar is, and why we should be paying attention to the technology they are advocating for.
What is Lanistar?
Lanistar is a fintech startup offering its customers an app and virtual payment card solution. Not to be confused with a bank, Lanistar allows you to keep, transfer and save money, all from a smartphone- no physical locations or physical cards required.
Already, the app provides several benefits to users, such as Lanistar-to-Lanistar transactions having zero transaction costs. It’s simple to use and operates with a 3DS security system that makes sure money is safeguarded. The virtual payment card is operable with technologies such as Google Pay for users in Brazil, making paying for goods in person a simple and efficient affair.
The Fintech company was founded in 2019 by Gurhan Kiziloz, who intended to make a payment card that’s unique within the finance market. There is an ambition to put the customer experience at its core while delivering an efficient payment system, however now, it seems that environmentalism has also become a core philosophy of the Lanistar brand.
How Sustainable Is It?
Lanistar is going green with how they function. Their payment card is virtual, as they avoid using plastic to create their cards. Since payments can be managed virtually, the need for plastic cards and the accompanying factory energy is removed, making it a significantly more environmentally friendly option.
Furthermore, Lanistar doesn’t use paper to send users documents, and avoid the process of using paper to deliver your plastic card. These two aspects significantly reduce CO2 emissions and plastic waste, which deeply affects the ocean.
Source: unsplash
Why Does This Matter?
According to statistics, an average 400 Million tonnes of plastic waste are produced every year- of this, the amount of plastic used in the creation of physical payment cards weights the equivalent of 95 Boeing 747 planes. Most of the estimated six billion plastic cards produced each year are made from non-recyclable, PVC plastics, making this part of the finance industry a major environmental burden.
By switching to virtual payment solutions as Lanistar has, customers and brands alike can drastically reduce their environmental impact. It is a solution that is simple yet efficent, and whats more, with payment solutions like Google Pay and Apple Pay becoming increasingly popular amongst younger generations, the need for a physical plastic card is reducing.
Young people dictate industry trends, and with the current generation of young people being not only well versed in the world of technology, but deeply concerned for environmental causes, it is likely that the lean towards virtual card adoption will only continue.
If this is to believed, it is likely that we will see many more fintechs and financial service providers taking on the Lanistar ethos. But, what the future of finance will truely look like is impossible to predict.
For more information, visit:
Website: https://www.lanistar.com
Instagram: https://www.instagram.com/lanistar/
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