Thursday, 23 Sep, 2021
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Talking about environmental topics is assumed to be relevant to many big companies or international groups. But this is not the responsibility of specific organizations or individuals, but for all of us. Now small and medium enterprises can join hands to tackle global climate change by contributing to Net Zero emission 2050. But without a huge financial budget as many people think. Online payment solutions for small business are significant contributions of the payment industry for our green global mission that SMEs and Startups can apply.
Online payment solutions for small businesses - pathway to Net Zero emission 2050
According to the European Commission, The EU aims to be climate-neutral by 2050 – an economy with net-zero greenhouse gas emissions. This objective is at the heart of the European Green Deal. And it is also in line with the EU’s commitment to global climate action under the Paris Agreement.
The transition to climate-neutral society is both a pressing issue and a chance to create a better future for humanity. From the power sector to industry, mobility, buildings, agriculture, and forestry, all segments of society and economic sectors will play a role.
European Green Deal - Paris Agreement
Climate change and environmental degradation are a threat to Europe's and the world's existence. To meet these difficulties, the European Green Deal will help the EU become a modern, resource-efficient, and competitive economy, ensuring that:
The Paris Agreement establishes a global framework for avoiding severe climate change by keeping global warming far below 2 degrees Celsius and pursuing efforts to keep it below 1.5 degrees Celsius. It also attempts to improve countries' ability to deal with climate change's effects and to assist them in their efforts. The Paris Agreement serves as a bridge between current policies and the goal of achieving climate neutrality by the end of the century.
Nowadays, the awareness of climate change is becoming more popular than ever not only in top companies but also SMEs. From business owners to all employees, we all want to make a better future for the Earth. Moreover, our efforts also help to develop human life sustainably. However, mitigating the greenhouse gas emission does not cost firms a huge amount of investment. It is not as much media used to talk about in the public. SMEs and Startups can make simple steps which are easy to do without much investment budget. Here are 08 actions that small businesses can take to cope with climate change.
Climate Change Actions
Measurement of greenhouse gas emissions (GHG) is the first step for any company that wishes to limit its harmful influence. For the sake of the earth and the environment, and so firms can help to reduce climate change. To this aim, various private agencies that are carbon footprint certified can assist businesses in calculating their CO2 emissions.
Once GHG emissions have been determined. Then the data will help us to track which of the company's activities produces the most pollutants. Companies can then begin to examine strategies to minimize their emissions once this analysis is completed.
Some beneficial steps that businesses may take include turning off the lights in the office in the evening. And modestly decreasing the heating or air conditioning, and unplugging equipment when not in use. Furthermore, businesses may lower their energy use, as a result, they may pay more attention to other daily routine tasks.
Today, there are more sources of renewable energy for business operations. SMEs can replace the traditional energy sources into the new ones. We could not change 100% over the night, but gradually we can make a significant change for a better energy-using habit.
Another option for a company to lower its carbon footprint is to reduce the quantity of waste it produces. All businesses produce waste, whether it's industrial waste from a huge corporation or paper waste from a tertiary-sector SME. Small enterprises can replace all invoices or paper receipts into e-receipts and save all data in soft documentation.
Transportation, as we all know, is one of the main sources of greenhouse gas emissions. Companies can considerably reduce their indirect CO2 emissions, impact on climate change by encouraging employees to use public transportation. Moreover carpooling with coworkers who live nearby or public transportation subsidies are also other solutions to tackle climate change.
It is also feasible to select infrastructure and equipment that are more environmentally friendly. Small companies can build up electric vehicles to update their employees' vehicles to meet the most recent environmental standards. If the outdated printers, air conditioners, laptops, screens, lights, or office supplies can't be repaired or more are needed. We should choose the most efficient (energy-wise) and sustainable (in terms of origin or labor moral standards) options.
SME Companies can help raise awareness among their employees, consumers, the media, and other stakeholders. It's a terrific idea to hold internal challenges or campaigns to raise and improve awareness of sustainability issues. Partner with outside organizations, do something fresh, unique, powerful and that stays front of mind.
These tiny actions progressively lay the foundation for excellent practices, which individuals then replicate at home and pass on to their friends.
Each business also bears responsibility for the partners it selects. Choosing a supplier is also a good choice for the environment (or not, depending on the supplier). As a result, businesses should make an effort to select suppliers who can demonstrate excellent environmental policies.
Running an online business is the best way to help SMEs manage cost effectively. They can reduce operating costs, human resources costs and also space rental costs. Payment industry has evolved, as a result of e-commerce, to meet the demands of online payment in the internet business. Since then, online payment solutions for small businesses have been born.
Online payment gateway solutions are online payment platforms for small businesses to accept electronic payments from online shoppers and settle funds to merchant’s banking accounts. The payment process happens through various steps from the client's bank account (issuing bank) to the final destination which is the merchant's bank account (acquiring bank).
online payment gateway solutions to support Net Zero emission 2050
The online payment platform for small businesses includes 3 primary components:
A merchant account is a type of business bank account that allows a company to accept and process credit/debit card payments and other electronic payment methods for small business namely crypto currencies, internet banking transfers, ewallets, etc. Merchant accounts necessitate a partnership between a business and a merchant acquiring bank, which facilitates all communications in an electronic payment transaction.
You'll need a merchant account to accept payments on the online payment platform for small business. You will be given a merchant identification number once your application for a merchant account has been approved (MID). This is your merchant account's account number.
Payment gateways or online payment gateway solutions are software applications that accept payment information from customers either physically, such as at POS terminals, or electronically, such as through online checkout pages. Aside from taking payment information from customers, the payment gateway also conveys this information to the payment processor by encrypting and sending data.
Payment gateway is a payment platform for small business to integrate into their e-commerce website or marketplace platform to enable customers input their payment information from credit/debit card or other payment methods for small business like crypto currency e-wallets or payment credentials or bank account details to complete the transaction.
Payment processors receive information transmitted from payment gateways and cross check the validation of payment orders. Payment processors screen and encrypt the data and communicate them with other parties and banks.
It is a financial institution or a processing organization that handles transactions between the customer's bank and the merchant's bank. The processor is in charge of verifying and authorizing payments received through payment gateways. If the processor determines that the card is valid and that the account at checkout has sufficient money to complete the transaction, it can be finalized in seconds.
Payment processors allow acquiring banks, card associations, issuing banks to communicate electronically to verify the validity of online card payments. Processors must be able to meet the transmission security level as well as having sufficient transaction processing capabilities.
Payment industry simultaneously with other segments in the economy contributes to global climate action and supports Net Zero emission strategy. How does it work in that mission?
Cash economy requires the government to print money into the market by using paper or plastic materials. As we know that paper originates from wood which is collected from trees. As a result, humans need to deforest and hurt the natural ecosystem. On the other hand, plastic money can not be biodegradable, and they contain toxins when burning. In addition, the cost for recycling paper cash or plastic cash also consumes oil or gas to run recycling machines.
Therefore, the online payment solutions for small business have played an important role in dealing with Net Zero emission by handling electronic money (EM).
Cashless payment - online payment solutions for small business
Let’s talk about paper again. There are billions of transactions per day across the globe. So we can estimate how many paper receipts to confirm for those transactions. This practice can cost a huge amount of paper pieces every year. By converting this into electronic invoices, we can save the forest and the environment. The online payment platform for small business enables merchants to issue electronic receipts to clients via emails, SMS, text messages or other forms of digital message.
Electronic invoice - online payment solutions for small business
Every time customers want to buy goods or services in brick and mortar stores, it is essential to drive to the shops. Driving on the street with private vehicles can cause traffic congestion and greenhouse gas emissions. As a result, online payment gateway solutions can solve the problems by enabling online checkout payments, and shippers can deliver many orders from many clients in one time travel. Online payment platform for small business provides facilities to assist customers and small businesses complete transactions in a blink of an eye securely.
Online checkout reduces private traffic
With online payment solutions for small business, SME companies can digitize their business and alleviate the presence of brick and mortar shops. By applying online payment gateway solutions to their website, small business owners are able to reduce the space leasing cost and human resources to operate the physical stores.
Digital marketing helps firms connect with customers more effectively than traditional practices. With online marketing, your products and services can approach more potential customers on the internet thanks to the advent of Big data. Leveraging this trend helps you save cost in marketing investment and make use of budget. Therefore, Accepting several payment methods for small business enhance customer experience and stimulate loyalty.
PayCEC international payment gateway was established in response to the growing need of businesses to accept online payments more quickly and easily. In the digital era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.
PayCEC international payment gateway is a truly global payments platform that not only allows customers to get paid instantly and securely, but also withdraws funds to their business accounts in various currencies.
We have created an open and secure payments ecosystem that entrepreneurs and businesses choose to securely transact with each other online and on any device. We proudly maintain the highest level of client advocacy in the industry.
We are honored to serve as your reliable business partner and financial service provider in the industry and other business-related services. With the help of our professional staff, to help merchants to achieve their goals for the development and expansion of the international business market.
Our payment flow has developed in the e-commerce world to perform seamlessly and effectively across all platforms and devices. We take pleasure in combining technology with customer service, to solve your concerns at the moment.
PayCEC is a fully worldwide payment network that not only allows merchants to be paid immediately and securely, but also allows them to withdraw money in multiple currencies to their company accounts.