Over 60 per cent of e-commerce merchants would ‘definitely’ choose a payment provider based on their commitment to ESG, according to new research commissioned by global payments platform Ecommpay.
With around 38 per cent of merchants also suggesting they ‘might’ choose a payment provider based on ESG commitments, Ecommpay found that only two per cent of merchants did not view this as important at all. Meanwhile, the sustainability values of a potential partner have at least some influence over all respondents; 41 per cent said they are strongly influenced, and 53 per cent somewhat.
When asked for opinions on the sustainability of specific payment providers, between 86 per cent and 94 per cent of respondents agreed that Ecommpay and five other named providers are sustainable, care about society and/or do good for society.
“Businesses have been increasingly prioritising their own sustainability for some time, and it is clear that this focus now extends to their partnerships,” said Miranda McLean, chief marketing officer of Ecommpay. “Payment partners are being chosen based on their sustainability and overall commitment to equality, sustainability and governance. It is important that providers can demonstrate their ESG credentials to prospective clients.”
However, although merchants have highlighted a strong preference towards companies that involve ESG strongly within their operations, Payments Association data suggests that just five per cent of payment businesses see ESG as a priority in the next 12 months. This highlights the fact that there is a significant gap between the priorities of payment providers and their clients.
Supporting inclusivity
“As part of our goal of reaching ultimate financial inclusivity, we have made a significant commitment to increasing accessibility and equality for Ecommpay clients and their customers,” added McLean. “Our payment solutions are inclusive and sustainable, and our new website has been designed with accessibility at its core. We are now calling for others in the industry to take similar action. Together we can ensure that affordable, convenient and flexible payments can be made accessible to everyone.”
Ecommpay has also committed to an ongoing inclusivity programme, ‘Ecommpay for Good’. The programme focuses on Ecommpay’s own inclusivity as well as providing businesses with support to improve the accessibility of their own website, products and services to simultaneously benefit customers and their business. Offering mid-size and enterprise businesses the products and services to trade domestically and internationally, Ecommpay for Good aims to have a significant impact on financial inclusivity.
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