QR code payments to assist charities recoup lost donations

Wednesday 19 May 2021 10:08 CET | News

Open Banking Excellence (OBE) has teamed up with Moneyhub and Streeva to develop a QR code solution to make donations easier for the public and more-cost effective for charities.

People can now donate by scanning a QR code, created by Open Finance and payments expert Moneyhub, on the OBE website and LinkedIn page using their phone. Moneyhub moves the payment directly from the donor’s bank account to the charity’s account, which receives the donation instantly.

The new system offers automated Gift Aid via Swiftaid, a payment solution developed by Streeva, instead of the usual manual process. As a result, the charities can claim an extra 25% on each donation and recoup some of the GBP 500 million lost each year through unclaimed Gift Aid.

Currently, people can use the QR code to donate to three charities: MyBnk, which offers financial education for young people; SSAFA, the armed forces charity; and EACH, East Anglia’s Children’s Hospices.

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Keywords: Moneyhub, digital payments, QR code, partnership, QR payments, Open Finance
Categories: Banking & Fintech | Online & Mobile Banking
Countries: United Kingdom
This article is part of category

Banking & Fintech