Earlier this year, we reported that ING partnered with Dutch startup Whydonate, to roll out contactless charity collection boxes. This was to help keep the charity sector innovative at a time when contactless and device payments are on the rise and cash is being used less frequently.
WorldPay recently announced that mobile transaction numbers have grown by 247% in the UK over the last year. There’s also new research conducted by Moneymailme which shows that 72% of 18-25 year olds are willing to use mobile apps for charity giving. The average Moneymailme app donation was recorded to be £3.15.
Being able to make donations via mobile apps is an innovative way of bringing a charity and the consumer closer. Digital payments would allow consumers to donate small amounts of money in real time to charities around the world, representing a significant opportunity within the global charity sector.
The research surveyed 1,000 18-25 year olds, with almost half (48%) of whom believe that physical money will be obsolete within 20 years, and 62% of whom feel frustrated if they are forced to make purchases solely with cash.
A further 74% of those surveyed already give to charitable causes.
“It’s clear that despite young people being on the lower end of the pay scale, they have a strong social conscience and a desire to help others. Technology is also incredibly important to this generation so they are keen to make charitable donations using the technology they already engage with on a daily basis.” Mihai Ivascu, Moneymailme CEO, commented on the research.
“Even if it is just a small amount being donated, it soon adds up when so many people are engaged with supporting charity efforts in our increasingly global world.”
David Nunn discusses the importance of e-commerce and how the pace of payments innovations is changing the market.
The crowdfunding was part of a £22m funding round that will support the launch of a current account facility.
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