Last month we officially partnered with Thyngs to integrate cashless donations, enabling our clients to turn their collection boxes into mobile donation points. All of our collection boxes can now be embedded with Thyngs cashless mobile donations technology making donating easier than ever for charity supporters. Donators can simply scan or tap the special labels with their smartphone to donate via credit/debit card, PayPal or Apple/Android Pay, safely and securely.
Cashless donations have already created quite a hype, so what is all the fuss about and how can it benefit your charity?
Here are just five reasons why turning your charity collection boxes into mobile donation points is an affordable alternative:
Cashless mobile solutions provide a low-cost option. The technology to carry out these types of donations can be added for as little as 60p per box, that is within reach of most charities which can start generating funds much sooner. This compared to the cost of having a contactless card terminal embedded into a collection box shows a huge difference. Those used in recent trials, requires a significant investment up-front (around £200 for a single unit). The high-profile trial by Barclaycard may have taken £20,000 in three months, but at a cost of £200 for each of the 100 collecting boxes they didn’t break even.
2. Gift Aid
When donating with contactless card donations, supporters do not get the option to add Gift Aid. Although the new Gift Aid Small Donations Scheme (GASDS) rules allow Gift Aid to be claimed on contactless card donations under £20, the total claim is limited to the lower of £8,000 or ten times the amount of Gift Aided donations in a single tax year. Cashless mobile solutions, like ours, allow supporters to make explicit Gift Aid declarations which allow charities to reclaim the maximum amount.
3. Flexible donor experience
Solutions like ours – because they are delivered via the donor’s own mobile phone – are far more flexible than Contactless card terminals. With mobile donations the donor can choose the amount (without having to ask for it to be changed), Our solution gives the donor complete control. As a charity, you can also provide the donor with information about how their donation will be used, and can even include a thank you message/video.
Because of the high cost of contactless card systems, it is unlikely that most charities will be able to deploy them in large volumes. For the price of a single contactless card donation tin, charities could buy around 40 Angal collecting boxes and have them enabled for Cashless mobile donations. In addition to this the Thyngs technology can be applied to any object, so turning other objects like posters, shop windows, and even staff and volunteer ID badges are possible.
5. Return on investment
Mobile donation collection boxes without a doubt provide a much better return on investment compared to contactless card tins. Whereas ten contactless card collection boxes costing approximately £1,000 and each taking £66 a month (the average from the Barclaycard trial) would deliver a return on investment of around 860%. A cashless mobile collecting box costing approximately £5 and taking £10 per month, on the other hand, could provide a return on investment of 2,500%!
For more information on how cashless donating works watch the video here.. Alternatively, if you wish to discuss more, just give us a call on +44 (0)1903 787978 or send us an email at [email protected].