Finance is the elixir that runs today’s global economy. It is the very foundation that allows businesses to grow beyond boundaries, banks to influence global policies and countries to claim global dominance.
Over the last few years, the payment industry has seen constant evolution due to the introduction of new actors (like GAFA and neobanks), new payment methods (Apple (NASDAQ:AAPL) Pay, Google (NASDAQ:GOOGL) Pay, Zeetle etc.), mergers, acquisitions, and new technologies (cryptocurrencies). The evolution is significant for the growth of the industry but these new actors come into the market with the mindset of making a profit without any sense of social, environmental, and economic responsibility. This profit-making mindset makes these services very expensive for the users.
With billions of users using these services, one would think that the finance sector should be accountable for its responsibility towards a sustainable environment. Contrarily, there exists a considerable asymmetry between the impact and corporate social responsibility (CSR) of the finance industry. To make things fairly simple, CSR is actually that one step of responsibility that every organization should take to have a positive impact on the environment and society (community, nation, people, etc.)...