With Australia predicted to surpass the US in terms of the number of non-cash transactions per inhabitant, traditional methods of fundraising can be outdated and don’t always make it easy for people to give. According to Lorraine Longhurst, Head of Partnerships at Basiq, Fintechs are the solution as “they have the potential to significantly improve the way fundraising is being done by digitising donations and reducing barriers to giving.”
As a result, Basiq is partnering with fintech company GooodPay to make it easier than ever to support the causes that matter. With access to bank transaction data from Basiq, GooodPay aims to help more customers become givers by allowing users to give smaller amounts, more frequently, via a rewards system.
Gooodpay has created a program that connects businesses, customers and charities for mutual benefit. The program works by partnering with businesses to provide Gooodpay members a ‘thanks for spending with me’ cash reward. This money can then be allocated to a number of the customers' chosen beneficiaries.
According to GooodPay director Steven Holland, “Through this system, charities can connect to a larger network of donors and businesses are able to benefit by drawing in new or lapsed customers wanting to do good through their purchases. It also increases the giving capacity of their members and potential donations for partner charities. We’re looking forward to rolling out additional features next year that will enhance the way in which these three customer groups can engage with each other for mutual benefit.”
It’s free to join GooodPay and with Basiq the process of getting started is quick and seamless. It takes just 30 seconds to create an account and another 30 seconds for Basiq to verify a bank account and connect a card. GooodPay’s functionality is also available to software partners via their API.
The list of businesses partnered with GooodPay is growing, with recent big name brands like Sephora, Lacoste and IGA being added to the list, so that no matter the kind of shop, members can give back. The list of beneficiaries that members can give to is also growing, with causes ranging from regrowing native forests to mental health and brain cancer research being supported.
The partnership between Basiq and GooodPay is just one example in which fintechs can collaborate for social good. GooodPay has also partnered with payments processor Split Payments to ensure they are able to transparently redirect their customer’s funds to their chosen charities. Basiq has previously worked with Split to help revolutionise the payments industry and deliver a frictionless customer experience.