9 of 10 Singaporeans think cashless payments are most eco-friendly

This includes cards, mobile wallets and mobile banking. 

Nearly 90% of Singaporeans consider cashless payments to be the most eco-friendly, a Visa study found. 

The report also found that 6 out of 10 are keen on seeing physical cards made out of sustainable materials; whilst nearly half (45%) are willing to donate part of their loyalty rewards points. 

Consumers were most interested in organisations involved in climate change (43%), sustainability (38%), and waste management (34%), the report also found. 

Read more: Indonesia, Phl struggle to keep up with Southeast Asia’s cashless drive

Moreover, consumers also look to societal causes with 30% saying they are most likely to put their loyalty points towards efforts that support food for all, whilst others consider disaster recovery (22%) and public health (20%).

“For many years now, ESG has been a key focus for corporations globally, but we are seeing more consumers in Singapore becoming more interested in sustainability,” Adeline Kim, Visa Country Manager for Singapore & Brunei, said. 

“From supporting low carbon urban mobility to helping banks develop their sustainability approach, payments networks have an opportunity to play a crucial role in facilitating the transition to net zero. As the network works for everyone, Visa is well-positioned to meet consumers’ needs and demands for greater transparency and understanding of their environmental impact.”