The green search engine, Ecosia, has recently announced that it has bought a stake in TreeCard, the world’s first wooden debit card.
This may be the first time you've heard about Ecosia, but it's been 11 years since the company was founded in 2009. It is equivalent in function to a search engine such as Google. But what makes Ecosia different is that they want to build an Earth where the environment does not need to be protected. They said 80% of the profit that TreeCard makes will be reinvested in Ecosia’s existing 38 reforestation projects located around the world. Ecosia doesn’t plant monocultures or invasive non-native species. The trees are monitored closely using satellite technology and field visits and are only counted if they survive for more than three years.
On the official website, Ecosia explains why they are powering TreeCard. They want to plant and protect billions of trees, and they can do so by providing innovative tools. Debit cards, like search engines, can generate a lot of money.
With every payment made, they use 80% of its profits that it gets from merchants who pay a small transaction fee to help plant trees. It estimates that every US$60 spent translates to one tree planted.
TreeCard accounts are full-featured deposit accounts and will be able to receive direct deposits and ACH transfers. The debit cards will be on Mastercard’s network and will be linked to an account that will be manageable from an app on smartphones. Deposits will be insured for up to $250,000 by TreeCard’s banking partners.
In addition, TreeCard comes with an app that helps you keep track of all your transaction. If your card is lost or stolen, you’ll be able to instantly freeze it and stop further transactions.
Each TreeCard is made from sustainably sourced FSC-certified cherry wood. As wood is a naturally imperfect material, each card will vary in terms of grains, knots and tone, making each card unique to whomever it has been given.
If you find it a little hypocritical that a firm that plants trees are using wood to make cards, you’ll be pleased to hear that a single tree can create 300,000 cards.
By using wood, TreeCard and Ecosia do not have to use plastic which takes a very long time to decompose. By the way, the core on the card is made from recycled plastic bottles.
TreeCard sign-ups are open now and you will be placed in a queue where you can wait for your details to be checked and your card to be shipped. In its announcement, Ecosia said that if you register by December 1, your free TreeCard debit card will be issued at launch - with no hidden fees, and no greenwashing.
You only need to fill in your name, email address, date of birth, and address. TreeCard will mail cards to U.S. users in early 2, with plans to issue cards to EU and U.K. users in late 2021.
TreeCard doesn't have coupons like any other credit card, but thanks to its unique texture and significance to the environment, it’s good to own one.