GoCardless and JustGiving Join Forces to Transform Charitable Donations with Open Banking Payments
In a groundbreaking move, GoCardless, the leading bank payment company, and JustGiving, the renowned online donation platform, have announced a significant expansion of their partnership, set to revolutionize the world of charitable donations, as stated in Fintech Global News.
GoCardless, known for its efficient and streamlined bank payment solutions, is poised to become JustGiving’s exclusive open banking payment provider, supplanting American Express in the process. This strategic shift represents a pivotal moment for charitable giving, as it enables JustGiving to harness the power of GoCardless’ Instant Bank Pay, facilitating immediate one-off donations in addition to its existing Direct Debit system for recurring contributions.
The core objective driving this partnership is a shared commitment to enhancing the donation process. JustGiving’s aspiration is to elevate the proportion of donations made through open banking payments, currently standing at 10%. This approach aligns seamlessly with JustGiving’s unique commission-free model for charity customers, where the platform relies on optional donor tips for revenue. The cost-effectiveness of Instant Bank Pay is expected to fortify JustGiving’s sustainable business model, ensuring a greater flow of funds to support charitable causes.
Oliver Shaw-Latimer, Senior Director of Payments and Innovation at JustGiving, expressed his enthusiasm, saying, «We’ve developed a suite of products to champion incredible causes, and it’s a privilege to be the driving force behind fundraising in the background. Over the past 23 years, we’ve raised over $9 billion for good causes across nearly every corner of the globe. We’re continually exploring avenues to maximize the impact of donations, and open banking payments play a pivotal role.»
Shaw-Latimer continued, «After collaborating with GoCardless for over a year on recurring donations, we were confident that its Instant Bank Pay feature would be a perfect fit for one-off contributions. Instant Bank Pay not only allows us to keep expenses in check but also offers an exceptional fundraising experience for our customers and their generous donors.»
Pat Phelan, Managing Director of UK & Ireland and Chief Customer Officer at GoCardless, emphasized the significance of this collaboration, stating, «As open banking celebrates its sixth anniversary in the UK, we take pride in democratizing this emerging technology by introducing Instant Bank Pay on JustGiving—a household name and one of the largest fundraising platforms in the nation. Through our unique combination of Direct Debit and open banking payments, JustGiving can provide donors and charities with more payment options while simultaneously reducing costs and mitigating fraud. Ultimately, this translates into greater financial support for deserving causes.»
This partnership between GoCardless and JustGiving promises to redefine the landscape of charitable donations, making it more accessible, efficient, and cost-effective. As they join forces to embrace open banking technology, the future looks bright for charities and donors alike.