June 13th 2024

Paying digitally accelerates decarbonization

European Digital Payments Industry Alliance

The European Digital Payments Industry Alliance (EDPIA) - of which Nexi is among the founders and members, together with the main European payment providers, like Aircash, Teya, Viva Wallet and Worldline - has published a study commissioned to Oxford Economics on the environmental impact of cash and digital transactions in three EU countries.

The study involved three Eurozone countries with different digital payment maturity levels – Finland, Germany, and Italy – and confirmed that digital payments have a lower environmental impact than cash. The research proves that a cash payment emits as much CO2 as 2.1 digital payments in Italy, 5.9 in Germany, and 23.5 in Finland. This means that if an average consumer chose to only pay via digital payment, in one year, they would save the equivalent in CO2 of 37 single-use plastic bags in Italy, 49 in Germany, and 74 in Finland.

With the white paper “The environmental impact of digital over cash payments in Europe”  EDPIA wants to contribute to and engage in the public debate on how the payment value chain can take actively part in achieving a low carbon economy and showcase which areas are likely to deliver the best decarbonization potentials. Here you can find the EDPIA roadmap of recommendations for policymakers and industry to further reduce the environmental impact of all payments in the future.

Rossella Cardone Group Director ESG & Sustainability, commented:

Paying digitally accelerates decarbonization in the entire payment sector. Together with the other members of EDPIA, we believe that the EU needs to set ambitious objectives to accelerate adoption of digital payments across European society, since this will drive benefits to the society and the environment”  

Rossella Cardone Group Director ESG & Sustainability

As Nexi, we are aware that the industry can strive to do even better environmentally. We look forward to continuing our efforts and engaging with the payment value chain to share knowledge and build partnerships for a sustainable future. In line with this vision, we have already announced ambitious interim targets for the decarbonization of our own operation and our supply chain by 2030 and are committed to achieving net zero by 2040.

At the following links, you can find the EDPIA press release and the complete study on the EDPIA website.