OBE, Moneyhub, Streeva partner for charity donations initiative

Friday 18 September 2020 13:44 CET | News

Open Banking Excellence (OBE) has partnered with payment API provider Moneyhub and Streeva, a gift aid company for a charity-driven initiative.

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.

Moneyhub created a QR code which will be available on OBE’s website, supporting four charities: MyBnk (financial education charity), SSAFA (armed forces charity), EACH (East Anglia’s Children Hospices), and Bristol Inclusive Thrill Seekers (adventure sports charity). Once the QR code has been scanned with a smartphone, it prompts the user to pick a charity and donation amount. UK-based donors can then pay directly from their bank account to the charity’s bank account.

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Keywords: OBE, Moneyhub, Streeva, charity donations, initiative, payments, API, payment API, Open Banking, fintech, QR code, bank account, gift aid, coronavirus, MyBnk, financial education, SSAFA, EACH, Bristol Inclusive Thrill Seekers, UK, United Kingdom, smartphone, donations
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
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Banking & Fintech