[stock-market-ticker symbols="FB;BABA;AMZN;AXP;AAPL;DBD;EEFT;GTO.AS;ING.PA;MA;MGI;NPSNY;NCR;PYPL;005930.KS;SQ;HO.PA;V;WDI.DE;WU;WP" width="100%" palette="financial-light"]

One of the largest online donation platform in the world selects GoCardless Instant Bank Pay for open banking payments

15 ianuarie 2024

GoCardless, the bank payment company, has extended its relationship with JustGiving to become „the online donation platform’s exclusive open banking payment provider, replacing American Express” – according to the press release. The move will see JustGiving use both the fintech’s Instant Bank Pay feature to collect instant, one-off gifts and its Direct Debit capabilities for recurring donations.

„JustGiving estimates that 10% of its donations already go through open banking payments – a proportion that it wants to grow. JustGiving does not charge a commission fee on donations to charity customers, instead relying on optional tips that donors use to cover its costs. The cost savings with Instant Bank Pay will help to sustain JustGiving’s business model and deliver more money to good causes.” the company explains.

JustGiving also cites reduced fraud as another benefit of open banking payments, as well as fewer refunds: the immediate nature of these payments means a lower number of accidental transactions and duplicate payments.

Oliver Shaw-Latimer, Senior Director, Payments and Innovation, at JustGiving, said: “We’ve built a suite of products to support amazing causes and it is a privilege to be the payments platform powering fundraising behind the scenes. Fast forward 23 years and over $9 billion has been raised for good causes in almost every single country in the world. We’re constantly looking for ways to make donations go further, and open banking payments play a pivotal role

After working with GoCardless for over a year on recurring donations, we were confident that its Instant Bank Pay feature would be perfect for one-off giving. Instant Bank Pay will not only help us to keep costs low but also provides a best-in-class fundraising experience for our customers and their donors.

Pat Phelan, MD of UK & Ireland and Chief Customer Officer at GoCardless, said: “As open banking approaches its sixth anniversary in the UK, we’re proud to bring this emerging technology to everyone through Instant Bank Pay on JustGiving – a household name and one of the largest fundraising platforms in the country. By using our unique combination of Direct Debit and open banking payments, JustGiving can give donors and charities more payment choice whilst lowering costs and reducing fraud. Ultimately, this means more money goes to worthy causes.”

The announcement adds to GoCardless’ list of open banking payment customers, which include credit card provider YonderNude, the savings app for first time buyers; Pillar, the new fintech platform breaking down credit borders; and ethical lender Plend.

__________

GoCardless is a global leader in direct bank payments helping more than 85,000 businesses, from start-ups to household names, collect both recurring and one-off payments, without the chasing, stress or expensive fees. Headquartered in the UK, with additional offices in Australia, France, Latvia and the United States, the company processes each year more than US$30 billion of payments across 30+ countries.

JustGiving is the world’s most trusted platform for online giving. The company helps people raise money for the charities and people they care about the most. In 2000, JustGiving.com began with one simple goal – to enable charities to receive donations online from anywhere in the world. Fast forward 23 years and over $9 billion has been raised for good causes in almost every single country in the world. JustGiving became part of Blackbaud in 2017.

Adauga comentariu

Noutăți
Cifra/Declaratia zilei

Anders Olofsson – former Head of Payments Finastra

Banking 4.0 – „how was the experience for you”

So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”

Many more interesting quotes in the video below:

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?