When someone uses their MogoCard there is a fee charged to the retailer (the place you’re making your purchase) called an interchange fee. Mogo, alongside Visa and other processors split this fee at varying levels. We have decided to use part of our share of the interchange fee to plant trees. The more times you use your card the more trees we plant. This is why we believe that Canada can become Carbon Positive (absorb more carbon than is released) much sooner than the Government of Canada’s target of 2050. If 16.5% of payment transactions done in Canada per year were done on the MogoCard (versus Credit Cards, Debit Cards or other Prepaid cards) then Mogo and its Members would be responsible for planting over 2.9 billion trees and offsetting 1.6 trillion lbs of CO2, which is more than what Canada’s total annual carbon footprint.
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