Afterpay Customers Can Now Offset Their Purchase Emissions Through the Power of Patch

Rhea-AI Summary

Afterpay has partnered with Patch, a carbon removal marketplace, to enable U.S. consumers to offset their carbon footprint from Afterpay purchases. This initiative empowers over 10 million customers to view their spend history's carbon impact and choose from various carbon offset projects directly within the Afterpay app. The partnership supports Afterpay's mission to promote sustainable practices among its 23,200 U.S. merchants and aims to contribute to climate action through accessible carbon offset options.

Positive

• Partnership with Patch provides customers the ability to offset carbon footprints from purchases.
• Integration enables seamless access to a wide range of carbon offset projects within the Afterpay app.
• Promotes sustainability among Afterpay's 23,200 U.S. merchant partners.

Negative

• None.

SAN FRANCISCO, Nov. 17, 2021 /PRNewswire/ -- Afterpay, the leading 'Buy Now, Pay Later' platform, has partnered with API-first carbon removal marketplace Patch to give U.S. consumers the tools to offset the carbon footprint of their Afterpay purchases. By embedding Patch's API directly into its consumer application, Afterpay will empower more than 10 million customers to take climate action and neutralize the impact of their spending behaviors.

Beginning this month, Afterpay's app will feature a section where customers can view the estimated carbon impact of their spend history and the cost to offset the related emissions. Customers can then choose from a wide selection of nature-based and frontier human-engineered projects to purchase carbon removal and/or offsets, all in one seamless experience. Patch's portfolio of projects ranges from traditional forestry initiatives to newer carbon sequestration technologies including bichoar, mineralization and kelp, allowing customers to join the fight against climate change by supporting the causes they're most passionate about. 

"As e-commerce demand steadily climbs, retailers are faced with mounting pressures to adopt sustainable practices — and to help their customers do the same. With integrations across 23,200 of US merchants, there's no better platform to support this industry wide effort than Afterpay," said Patch CEO and Co-Founder Brennan Spellacy. "We're thrilled to equip millions of customers with the information and access needed to build climate-conscious spending habits and to further move the needle on giga-tonne scale carbon sequestration."

Zahir Khoja, General Manager of North America for Afterpay said, "We are thrilled to launch with Patch as we know our customers have an invested interest in taking sustainable actions towards their purchases. Through this partnership, we're able to deliver on our brand promise of providing more ways for customers to contribute to sustainability initiatives or goals."

This partnership expands upon Afterpay's mission to provide consumers with a better way to pay, while indicating its sustainability commitments to existing and prospective merchants. Afterpay is the latest in a growing list of retailers and e-commerce platforms leveraging Patch's technology to advance sustainability goals, joining the likes of Farfetch Platform Solutions and Aether.

About Patch
Patch is an API-first carbon removal marketplace that enables companies to seamlessly purchase as little as a gram of carbon removal from individual projects. This micro-transaction access enables businesses of all sizes to work with carbon removal projects and neutralize emissions with the granularity required by embedded carbon removal use cases, such as carbon neutral shipping, travel, and climate positive financial services products. As an API-first platform, Patch aims to create a future where every commerce transaction—every swipe of a credit card, retail delivery, and bitcoin purchase—can have its unavoidable emissions automatically neutralized. For more information, visit www.patch.io

About Afterpay Limited
Afterpay Limited (ASX: APT) is transforming the way we pay by allowing customers to buy products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time - helping people spend responsibly without incurring interest or extended debt¹. As of June 30, 2021, Afterpay is offered by nearly 100,000 of the world's favorite retailers and has nearly 20 million customers in North America alone².

Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins. 

¹ Late fees may apply. Eligibility criteria apply. See afterpay.com for full terms.
² Results announced in FY21 stated US customers who have signed up to use Afterpay

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SOURCE Afterpay

FAQ

What is Afterpay's new partnership about?

Afterpay has partnered with Patch to allow U.S. consumers to offset the carbon footprint of their purchases.

How many customers can benefit from Afterpay's new sustainability feature?

Over 10 million customers can utilize the new feature to offset their purchase emissions.

What types of projects can Afterpay customers support through Patch?

Customers can choose from a variety of projects including forestry initiatives and carbon sequestration technologies.

How does Afterpay plan to promote sustainability?

Through its partnership with Patch, Afterpay will integrate carbon offset options directly into its app for consumers.

What is the significance of Afterpay's partnership with Patch?

The partnership expands Afterpay's commitment to sustainability and provides accessible options for climate-conscious spending.