Users of the Mogo Card have been enjoying 2% cashback in bitcoin on their purchases. However, from October 1st, that will come to an end. To be more environmentally conscious, Mogo will instead plant a tree for every transaction made using the Mogo Card.
In a move to differentiate itself from the rest of the crypto card market, Mogo is making a conscious effort to appeal to people who wish to combat climate change. Mogo will also plant trees any time someone downloads their app, makes an account, or uses any of Mogo’s services including getting a loan or mortgage.
Mogo aims to help make Canada a climate-positive country. By using the Mogo Card, you could eliminate your carbon footprint and become climate positive yourself. There are 17 billion purchases made in Canada every year. According to Mogo, if just 20% of these purchases were made with Mogo Card, Canada could become carbon positive.
“Our goal with the Mogo Card has always been to help Canadians save money while also fighting climate change. If we all need to give up our air miles, points and cashback in order to save the planet, it’s a small price to pay,” said David Feller, Mogo’s CEO.
The Mogo Card rewards will change to the new tree-planting system on October 1st, 2021. Canadians can still use other crypto Visa cards to earn crypto cashback on their spending.