Established in 2008, DoneGood is an online store that showcases companies who follow pre-approved sustainability standards, such paying workers a fair salary or using renewable energy to power their operations.

Similar in purpose to its most recent acquisition, Karma Wallet uses its data platform and rating system to give customers information about the social and environmental impact of businesses across a range of industries, with the Sustainable Development Goals (SDGs) of the United Nations as a reference point.

The fintech company says it intends to launch the Karma Wallet card and membership program in "late April" of this year, and the purchase of DoneGood is expected to seamlessly integrate into those offerings.

Customers who sign up for the membership program will receive a Pathward-issued Visa prepaid debit card, as well as free delivery and up to 10% cashback on purchases purchased through the DoneGood marketplace.

Karma Wallet says that it would contribute to hunger relief initiatives when users pay a bill at a restaurant and to anti-deforestation organizations with every fuel-related purchase. Rewards will also be extended to purchases made outside of the marketplace.

Essentially, users of Karma Wallet should be able to purchase items from firms and gain information into their sustainable business practices thanks to the convergence of the two causes.

According to Karma Wallet co-founder Kedar Karkare PhD, the fintech was founded with the goal of incorporating "ethical choices into everyday finances," and the purchase of DoneGood marks a "significant milestone" in the company's journey toward that goal.