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TapiX Eco Track

Raise carbon literacy
through education, explanation
and motivation

with payment data enrichment API-based service
for bank and fintech apps

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How to deliver the sustainability concept to clients?

61%
of consumers

Feel they need more information to make better choices when shopping sustainably, highlighting the need for education and resources to make eco-friendly decisions easier 

64%
of consumers

Are prepared to behave differently if it benefits society

51%
of consumers

Want to buy more sustainably



*The data are based on the EY Future Consumer Index

Consumers numbers

 

Educate with Eco Tips

Enrich your app with fun facts, transaction context or advice to improve client habits based on carbon footprint calculations provided by TapiX 

Eco Context

 

Let your clients learn

Enhance your clients' everyday lives with a banking app. "Tip of the Day" or "Did you know" after logging into the app can be a way to go

Provide context to transactions

Give carbon footprint values real and practical meaning by putting the values into a context that the client can easily imagine and understand

Be good advisors

Make your clients' journey to sustainability easier by helping them understand the environmental impact of their individual purchases and teaching them how to improve their habits.

Engage, empower but don‘t judge.

Praise clients with positive results of calculated CO2 footprint for individual transactions and identified eco-friendy habits.

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CO2 footprint for transactions

   Estimated footprint for every transaction

   Appraisal for purchases proving environmentally responsible behaviour

Eco tags

Eco tags

   Encourage conscious and sustainable consumption

   Identifying transactions based on the nature of the shops and the products they sell, enabling users to make sustainable choices effortlessly

Why Eco Track from TapiX?

Precision in carbon footprint calculation is strongly influenced by precision of categorization. Standard models focus on estimation of CO2 multipliers for individual categories. However, accuracy of underlying categorization is out of the scope.

Category data enrichment model
* Based on the general EU model. Example of €50 spent. Our approach is 
ready for CO2 tracking on the merchant level once possible.

Consistent data

   For payment enrichment and CO2 footprint

   Single point of truth

   Avoid inconsistencies due to different categorization

Higher model accuracy

   Localized model leveraging on local market knowledge

   TapiX focuses on accurate estimation of categories beyond MCC which provides significant synergies

   Around 500 side tags accompanying the category information to narrow down CO2 multipliers

Seamless integration

   One integration for data enrichment and CO2 tracking

   Fully documented API

Learn how TapiX API works

 

Deliver the concept of sustainability to your clients with an industry-leading API.

Have a quick call with our expert team to walk you through the TapiX Data Points options.

In this live call, we will cover:

  • How to leverage the potential of carbon footprint calculation 
  • A Product tour applied to you and your business needs
  • Walkthrough and answer any questions or concerns you may have

FAQ - CO2 footprint calculation

 We use country-specific emissions data and carbon models to calculate the carbon footprint of payment transactions using information about product category and merchant.  

The calculation methodology is based on statistical analysis of a significant amount of data. It's important to note that the CO2 footprint calculated is an estimate, not an exact measurement. We derive the estimate from an average within a category of goods/services and transaction value. We don't have access to basket-level data, which may affect the precision. While the provided CO2 footprint offers valuable insights, it should be considered as an estimation and has informative value. 

E.g., if 30 euros were spent in Germany and the coefficient for the Food and Drink category is 0.308, the calculation would be:  

30 €∗0,308=9,9 kg 

 

The category coefficients used to determine the CO2 footprint are derived from numerous trustworthy sources that provide data on total emissions, GDP, emissions embedded in trade, consumption baskets, and more. These sources include reputable organizations such as the World Bank, Our World in Data, Eurostat, Defra Emission Factors and more. The coefficients are based on extensive research and analysis from these and other respected sources to ensure the accuracy and reliability of the calculations. 

The trustworthiness of the category coefficients and tags used for your transactions is ensured through a process of regular cross-checking and validation. While the coefficients are derived from statistical analysis, we continually compare them with various reports on the CO2 footprint of specific products or activities.  

*(For example, by referencing the CO2 emissions reported by a fashion brand for their jeans, we can calculate the emissions using the Fashion category coefficient. If our calculation aligns closely with the reported value, it confirms the accuracy of our methodology. This verification process is repeated across different products and categories, allowing us to fine-tune our calculations and provide reliable and accurate results.) 

Yes, the calculator does consider different regions or countries in its calculations. This is important because it takes into account various parameters such as price level and energy mix of each country. 

One limitation is that we only have visibility into the merchant where the purchase was made. We do not see individual items in your shopping basket.

*(For example, when you buy a sandwich for a snack at a gas station, we are unable to distinguish the specific nature of the purchase. This means that certain details, such as the carbon footprint associated with that specific item, may not be accounted for accurately.)