TrueLayer has launched a fee-free, stand-alone charity donation app using Payments Initiation technology for account-to-account transfers.
Payments Initiation enables donations to be made directly from online banking, clearing funds in minutes and eliminating card fees. The firm says charities signing up for the Donate Direct platform can be up and running within a few hours.
Women’s Aid, FareShare, End Youth Homelessness, The Wonder Foundation and The Brokerage are the first charitable organsisations to take advantage.
Shefali Roy, COO of TrueLayer, says: “We hope this platform can provide some help to charities. They have been hit hard by the crisis just when they are needed the most. By cutting out transaction fees, we’re making sure 100% of donations go to good causes and by using our Payments API for payment initiation using bank to bank rails, donations are fully secure, and clearance is faster."
She says the firm will match up to £10,000 worth of donations made through Donate Direct.
Another fintech-inspired initiative to raise funds for struggling charities comes from a collaboration between contactless business conference outfit Purple Pot and Thyngs to provide charity donation links and QR codes to businesses holding video conferencing calls over Zoom.
The Giving Room is part of an appeal to raise £200,000 over the summer for NHS charities, people affected by Covid-19 and other vital charities.