Parentkind and BOPP have signed a 3-year exclusive contract to bring Open Banking payments to the 13,000 PTAs they support as members, according to Charity Today.
PTAs generally raise over GBP 120,000,000 in revenue from their fundraising efforts every year. However, with the decline in cash, the high costs of card processing, and platform fees associated with such efforts, the introduction of BOPP will seek to reduce the costs of collecting funds and make the process much easier and simpler for the parents and donors that support them.
Parentkind supports the largest network of PTAs across England, Wales, and Northern Ireland, and it is widely accepted that the decline in physical cash could be a barrier to the amount that can be raised going forward. BOPP will enable a PTA to display a QR code on a school notice board or add a secure Paylink to any text or social media post, and when scanned or clicked, it enables payment direct from the security of the donor’s bank account and directly to that of the PTAs.
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