Three quarters (74%) of young people give to charitable causes according to new research released today by the social money transfer app Moneymailme.
This includes 17% who have a direct debit set up with charities of their choice and 12% who regularly donate to disaster relief funds online.
Nearly three quarters (72%) say that they would donate small amounts of money on a mobile app, in real time, to charities around the world, representing a significant opportunity for the third sector if it fully embraces digital.
Being able to donate using convenient technology is key for 18-25 year olds, half of whom (48%) believe that physical money will be obsolete within 20 years and 62% of whom feel frustrated if they are forced to make purchases with cash.
The research, which surveyed 1,000 18-25 year olds around the UK, highlighted that it is important that there is transparency about where charitable donations are being made, with over a third (35%) saying that they would use a mobile app to make donations as long as they could clearly see where the money was going. Nearly a quarter (24%) would do so as long as there was no charge.
Moneymailme, which offers in-app donations to a number of global causes through its charity partner GlobalGivingUK, has also revealed that, on average, its users donate £3.15 when they choose to contribute. The most popular amount to donate is 86p at a time.
Moneymailme CEO Mihai Ivascu said: “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. 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 globalised world.”
Moneymailme, which combines social interaction with the instant sending and receiving of e-money in over 130 countries, has created partnerships with various foundations and charities around the world, presenting a constantly updated version of its Charitable Causes to users who can donate in real time at no cost.