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August 6, 2014

World’s first ethical credit/debit card unveiled

The Ethical Brand Foundation, a not-for-profit social enterprise registered in the UK, has unveiled the world's first Ethical credit/debit payment card.

By Verdict Staff

The Ethical Brand Foundation, a not-for-profit social enterprise registered in the UK, has unveiled the world’s first Ethical credit/debit payment card.

The card, which can be used in the same way as any other debit or credit card, is scheduled for delivery in November this year.

The Ethical Brand Foundation said it will provide cardholders a personalised, ‘quick read’, ethical brand rating report on each company as well as the goods and services purchased using the card apart from a monthly financial statement.

Cardholders will also be offered online access to the company’s digital research library containing information about all the brands supported by cardholders worldwide.

The card has been launched on the Indiegogo.com crowdfunding platform, targeting early adopters with the entire registration fee credited back onto the card.

The Ethical Brand Foundation founder and chief executive William Smith said: "There are two dimensions to this work: licensing and most recently card services. We have been licensing selected companies to display the ethical brand logo during 10 years of research and product development.

The Ethical Brand Foundation is expected to announce an interest rate on credit card borrowings of around 12% annually.

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