Climate Fintech Credit Card Consultant
New Energy Nexus Ventures Pte Ltd, United States
Job Description
We are looking for an experienced, driven Climate Fintech Credit Card Consultant to help design and execute a Climate Credit Card Challenge, to be built and launched over the next 6 months. This effort will bring together the latest innovators and technologies in instant payments, digital wallets, credit assessment and combine them with the goal of decarbonizing the way we spend, the things we buy, and the rewards we reap. Now that almost all major banks or card carriers have made net-zero carbon commitments, a challenge will engage key stakeholders, give visibility to the opportunity at hand, and showcase the innovations with the most potential on a global stage.
Credit cards are a powerful mechanism both familiar to the American consumer, and of paramount importance to the credit system. By infusing this capitalist tool with climate benefits and incentivizing good behavior, perhaps there is no greater gateway to decarbonizing the average American consumer and their daily lives. According to Shift Processing, a credit card processing company, 1.06 billion credit cards are in use in the United States (compared to 2.8 billion worldwide) and Americans are 40% more likely to use a credit card for a purchase than other methods. Now is the time to develop the right climate-oriented credit card products and services, challenge existing award systems and structures, and apply public pressure on the credit card companies themselves. A minor normalization of climate in credit card basic function could potentially direct billions of dollars to environmental organizations, finance off-grid solar in the global south, and result in millions of tons of carbon to be offset, all while empowering and educating the average American consumer.
This initiative is part of our larger global Climate Fintech Program that aims to foster digital financial technology which is helping to catalyze decarbonization. Our goal is to guide entrepreneurs, intrapreneurs and technologists with the help of financial product specialists and climate advocacy in the credit card space and to make this omnipresent plastic more meaningful.
Join our dynamic global team and build a global initiative that moves clean energy forward.
The position is to be based in US, preferably in Oakland or New York. Due to COVID-19, the physical office is closed, and we will remain remote until further notice.
The Project
The consulting assignment will encompass a three-phase approach that will build on the current Climate Fintech Accelerator strategy and leverage New Energy Nexus’ global network, expertise in building accelerator programs and startup ecosystems.
Phase 1 will include a brief pre-launch scoping study and landscape assessment of current climate credit card products.
Phase 2 will include program planning and the recruitment of corporate sponsors and the alignment of problem statements to be incorporated into the challenge.
Phase 3 will include the execution, management and coordination of the challenge between startups and corporates culminating into Virtual Demo Day and Award Ceremony.
The assignment will be remote with occasional meetings with banks and credit card companies if deemed necessary and safe.
Key Responsibilities
The Climate Fintech Credit Card Consultant will focus on work in three phases:
1. Phase 1 - Landscape Assessment and Product Analysis (April May)
a. Conduct landscape analysis on current climate credit card offerings, products, trends, challenges, cost structures, regulations
b. Exploring top-down incentives and reward program structures of traditional credit cards that could adopt climate-aligned measures
c. Highlight cutting-edge digital wallet credit card replacements and trends of note
d. Distill complex regulatory requirements that could be non-starters for certain innovations
e. Summarize findings in a succinct guide that will help drive dialogue in the space and direction of the challenge among select banks and card carriers
2. Phase 2 - Corporate Sponsorship Recruitment and Program Planning (May June)
a. Work alongside Climate Fintech team to recruit banks and card carriers to sponsor the challenge and develop problem statements that align with their internal strategy, participate in startup/team selection
b. Support development of corporate sponsorship strategy, materials and presentation
c. Coordinate challenge planning and execution with vendors, partners and team
d. Work closely with the Climate Fintech team to coordinate simultaneous initiatives in Europe and China
3. Phase 3 Open Call for Applications and Application Management (July September/October)
a. Distribute the summary of findings to participants and sponsor stakeholders
b. Recruit teams/entrepreneurs/startups to participate in the Climate Credit Card Challenge through