The initiative utilises Open Banking to help make charity donations quicker and easier. This works by allowing charity donations to be made by scanning a QR code with a phone to pay directly from one bank account to a charity’s bank account, with an automated gift aid function, so charities can claim an extra 25% on each donation. The initiative has been launched amidst coronavirus which has undermined the ability of the third sector to raise funds due to social distancing, lockdown, and a general demise of cash, according to AltFi.
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