Fils, a startup venture launched by Nameer Khan, a serial entrepreneur and Chairman of the MENA Fintech Association, on Tuesday announced the launch of a new fintech platform, designed to help businesses integrate sustainable values into the core of digital payments.
The new innovation, billed as a first-of-its-kind API that embeds sustainability throughout the digital payments infrastructure – both online, in-store and on-the-go – enables global businesses to accurately track their carbon credit needs, and purchase high-quality credits needed to make a real difference for the planet.
“This will pave the way for trust and safety in carbon markets,” the company said in a media statement.
Designed as a B2B2C product offering, Fils leverages the power of leading technologies for its end-to-end infrastructure to transform various industries, including financial services, hospitality, and e-commerce, making it easier for businesses to act on the core values of environmental, social, and corporate governance (ESG).
The company said Fils’ new product will demonstrate that the Middle East is at the forefront of ESG innovation, enabling progress the world over.
Significantly, the launch of Fils comes ahead of COP28 and the need to act now.
“The global climate crisis is a pressing issue that can no longer be ignored; however, many companies fail to incorporate climate action into their core operations and transactions. ESG values are here to stay, thanks to consumer and investor demand for greater transparency and social responsibility from businesses,” the company said.
Nameer Khan said Fils will be a catalyst for the evolution of ESG enforcement and has the right team, experience and expertise to lead the market.
Revolutionizing Sustainability: Fils’ Tech Triumph
“With our robust infrastructure, it spells the end of greenwashing and clears a path towards greater accountability and implementation of actionable outcomes that can improve the sustainability of the world we live in,” he said.
Khan said by taking a technology first approach to sustainable action – Fils has created a game-changing digital ecosystem connecting organisations, impact makers and consumers.
“It is a best-of-breed fintech that enables organisations to increase the scalability of their sustainability practices and provides projects across 17 United Nations Sustainable Development Groups (UNSDGS) with the ability to receive digital payments faster, easier, more securely, and with greater transparency,” he said.
The company said its unique pillars of technology are poised to transform the world of ESG through several factors such as peerless innovation and easy to use features.
The startup venture is backed by some of the leading names in the industry, the company said.
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