Everyone has once wanted to make a quick donation to a charity, but had no cash on their person. Innovation in payments is making it easier to donate to charity in a number of respects.
According to LINK, cash payments peaked in 2000 with over 27 billion, accounting for 74% of all payments.
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By GlobalDataBy 2007, this had fallen to 22 billion, 61% of all payments. In 2018, it is only 11 billion cash payments and a diminished 28% of the total.
With so many charities relying on cash, particularly with street work, the decrease in cash usage can be a real hurt. Many people don’t have the time to stop and fill in a standing order form either. So what are the alternatives?
Social network Instagram has added donation stickers to its Stories feature.
Users can now add a donation sticker to their Story to create a 24 hour fundraiser for the charity of their choice. 100% of the money goes directly to the charity.
Aibhinn Kelleher, strategic partnerships manager, social impact team at Facebook EMEA said in a statement: “All over the world people are using Instagram to raise awareness of the causes that matter to them. Now with donation stickers for Instagram Stories, people have a really easy way to support these causes, while also directly raising money.
“As well as helping organisations reach new audiences, with 100 per cent of all money raised going straight to the organisation, the Instagram donation sticker should be a valuable tool for the charity sector. We can’t wait to see the creative ways that people use Instagram to support the causes they care about.”
Revolut
Digital-only bank Revolut has a charity donations feature now available for customers to round up spare change for charity.
Additionally, customers will also be able to make donations by setting up recurring payments or making a one-off donation.
Revolut has also stated that unlike many traditional banks, 100% of customer donations goes to each charity.
Charity donations through banks and payment firms are common but many have a minimum spend. With the Revolut charity donation feature, customers can give as little or as much as they want.
Furthermore, Revolut charges no fees to donate to their preferred charity. Additionally, customers can turn the feature on and off at any time they like.
Contactless
Utilising contactless for charity has been long in development.
Contactless charity donation boxes for use in charity payments has been touted plenty of times before. In 2016, Barclaycard worked with 11 charities, including the NSPCC, to see how charity boxes worked. As a result, the average donation during the trial for the NSPCC was £3.07, higher than the average if it was just spare change.
Now there are multiple firms offering the same sort of solution, including GoodBox and Tap For Change.
In November 2018, London Mayor Sadiq Khan unveiled contactless points across the capital for charity donations.
The 35 terminals, run by not-for-profit TAP London, take £3 donations by card. The donations will be shared between 22 different charities.
Even the Church of England is a fan of contactless as it introduced contactless collection plates at the Cathedral and Metropolitical Church of St Peter in York.
Payments in charity are certainly getting a much needed upgrade. In addition, people can always still donate in cash if preferred.
