Within recent years, FinTech has brought to the public a way to donate and fundraise for any cause, ranging from charities to startups. In London, five students have found a way to integrate a new system into an existing one – from integrating a “digital charity box” called “iRoundUp” into an established online payment system “ParentPay.”
By giving access to the public a way to give to good causes without barriers, such as distance, it gives more incentive for the masses to be inclined to help. It also reaches a larger audience, increasing the donating potential that these charities can reach. Since it was an existing platform, the users are already familiar with the interface. By adding in a new option, it gives the users an easy and hassle free way of donating to a good cause.
With the development of technology, this notion of online giving has been widespread across the online community. This gives a new push towards the future of money, where all transactions – from buying, selling, or donating – will be transferred online. By slowly integrating new technologies, such as “iRoundUp” to a larger platform, users can be exposed to the fast changes of technology.
http://techcitynews.com/press_release/no-electronic-loose-change-innovative-fintech-charity-payment-scheme-launched-today-across-6000-uk-schools/
Interesting article! This technology is undoubtably going to be very important going forward. That being said, do you think the convenience of donating online will cause the market to be flooded with various charities taking advantage of this and overwhelm potential donors?
While most fintech today, like iRoundUp, looks to increase efficiency and inclusion, the purpose behind this particular innovation is especially respectable. A financial technology geared towards making it easier to help people holds much more value than the increased efficiency it offers.