The Ethical Brand Foundation has announced the launch of the world’s first Ethical Payment Card. Scheduled for delivery in November 2014, the card is useable in the same way as any major debit or credit card. In addition to a monthly financial statement cardholders receive a personalised, ‘quick read’, ethical brand rating report on each company as well as the goods and services purchased using the card. Cardholders also receive online access to the company’s digital research library containing information about all of the brands supported by cardholders worldwide.
Founder and Chief Executive Mr William Smith started the ethical brand initiative in 2004 to “help consumers make better choices – in any category, whether it’s clothing, food or holidays”. Mr 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. Our evidence-based, data-driven licensing model has been successfully market-tested on every continent with over 100 organisations. This experience has enabled us to develop and refine our methodology to monitor and authenticate high volumes of so-called ethical brands in an unbiased and largely automated manner.”
Mr Smith went on to say: “The eb Card builds on our proven methodology and we are looking at a very exciting stage in the evolution of our initiative. This initiative is designed to achieve one thing: to empower consumers with the ability to make better choices by influencing the ratings we apply to each company, product and service where the card is used.” The company has launched the card on the Indiegogo.com crowdfunding platform targeting early adopters with the entire registration fee credited back onto the card. It is expected to announce an interest rate on credit card borrowings of around 12% annually at the same time as it unveils what it described as a “ground-breaking rewards scheme” in November.
About The Ethical Brand Foundation
is a not-for-profit, certified social enterprise registered in the United Kingdom. We license genuine ethical brands to display the eb symbol on their websites, stationery, signage, advertising and products so that everyone who cares about the social and environmental impact of their purchases can easily make the right choice.