A holistic approach to ESG strategy implementation in PayTech companies
Nortamo, Susanna (2025)
2025
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025051712807
https://urn.fi/URN:NBN:fi:amk-2025051712807
Tiivistelmä
Despite occasional resistance, Environmental, Social and Governance (ESG) is here to stay. Corporate ESG measures are not only becoming mandatory but a prerequisite for success for companies. To adapt to the new situation, companies must transform their business strategies. Since the same ESG change frameworks are not applicable to all industries, sector-specific guidelines and recommendations are needed for navigating the transformation.
This thesis aims to understand the current state of ESG and to explore the integration of ESG strategies within payment technology (PayTech) companies. By conducting an analysis of existing ESG frameworks and industry best practices, this study provides insights for PayTech companies seeking to enhance their ESG profile while creating long-term value. This study seeks to provide a comprehensive roadmap for PayTech companies to integrate ESG strategies into their business models.
The literature review discusses ESG, corporate social responsibility (CSR), the relevance of ESG and ESG frameworks. ESG strategy implementation theories consist of the stakeholder theory, ESG performance management and change management and organizational culture. Additionally, the literature review indicates how fundamentally innovation, technology and risk management are linked to ESG strategies in PayTech companies.
The approach of this research is a process case study that uses benchmarking as a research method. Process benchmarking was conducted using secondary material based on Pagitsas’ interviews with ESG leaders of companies that have successfully implemented ESG strategies. Critical cases were used in industry benchmarking, which was conducted by using publicly available ESG information on the most reputable and successful ESG performer PayTech companies. The benchmarking findings show what ESG strategy implementation measures benchmarked companies have in place. Based on the literature review and benchmarking findings, this research provides a suggestion of an ESG strategy implementation roadmap for PayTech companies.
The results of this research indicate that mere ESG compliance is not enough to successfully implement ESG strategies, and therefore reforming both business and ESG strategy is necessary. The results confirm that a holistic approach to ESG strategy implementation is needed, and that all three aspects of E, S and G must be equally included. The results show that companies can benefit financially and non-financially from the strategic utilization of ESG integrations. In conclusion, this study shows that implementing an ESG-based strategy integrated into sector-specific innovation goals holds enormous opportunities for PayTech companies.
This thesis aims to understand the current state of ESG and to explore the integration of ESG strategies within payment technology (PayTech) companies. By conducting an analysis of existing ESG frameworks and industry best practices, this study provides insights for PayTech companies seeking to enhance their ESG profile while creating long-term value. This study seeks to provide a comprehensive roadmap for PayTech companies to integrate ESG strategies into their business models.
The literature review discusses ESG, corporate social responsibility (CSR), the relevance of ESG and ESG frameworks. ESG strategy implementation theories consist of the stakeholder theory, ESG performance management and change management and organizational culture. Additionally, the literature review indicates how fundamentally innovation, technology and risk management are linked to ESG strategies in PayTech companies.
The approach of this research is a process case study that uses benchmarking as a research method. Process benchmarking was conducted using secondary material based on Pagitsas’ interviews with ESG leaders of companies that have successfully implemented ESG strategies. Critical cases were used in industry benchmarking, which was conducted by using publicly available ESG information on the most reputable and successful ESG performer PayTech companies. The benchmarking findings show what ESG strategy implementation measures benchmarked companies have in place. Based on the literature review and benchmarking findings, this research provides a suggestion of an ESG strategy implementation roadmap for PayTech companies.
The results of this research indicate that mere ESG compliance is not enough to successfully implement ESG strategies, and therefore reforming both business and ESG strategy is necessary. The results confirm that a holistic approach to ESG strategy implementation is needed, and that all three aspects of E, S and G must be equally included. The results show that companies can benefit financially and non-financially from the strategic utilization of ESG integrations. In conclusion, this study shows that implementing an ESG-based strategy integrated into sector-specific innovation goals holds enormous opportunities for PayTech companies.