Payments are used almost a hundred thousand ways by people. In cases where money has to be given to social causes it is generally a pain. You are frequently required to do some few things or apply another platform. And even you have to do it sometimes. This is an issue to individuals having stores and, in charities. It renders them difficult to make people make donations. The money that is being given is also difficult to follow. Online payments and giving of donations should be simplified.
Our customer is a FinTech platform, which supports merchants and nonprofit partners. They were interested in facilitating an easy way of people giving to charity as they check out. The FinTech platform also wished to simplify the donations process of the customers. The FinTech platform was interested in ensuring that merchants are in a position to answer the question, how much money are being donated and what good are we doing at the time.
We added a checkout donation option which allows individuals to round up their donations or make a fixed amount. It is also an aspect that provides a report of all. The checkout donation option assisted in increasing the number of people who were donating. It also rendered it transparent and easier to use by merchants and donors. The check out donation option was truly helpful.
The Issue: Donor Fatigue and Brand Minimization.
The people who were collecting donations had a lot of problems before they introduced the feature that they brought in. These issues were not favoring the donation efforts. Donation activities had to address issues that complicated the way they do their job.
Customers were forced to abandon their checkout or do some actions to donate money to charity hence not many people did it. There was no way that merchants could request customers to make donations, but it slowed down the checkout process. Any form of keeping track on the money that was collected was normally done manually. It was not accurate or it took a long time. The nonprofits and the merchants had their own share of time to match the donations, and the transactions and demonstrating the difference of the donations given to the charity and the merchants.
Such issues rendered it very difficult that people could donate.
Our Solution: In-App Checkout Donations with Transparency Reporting.
We added a donation option which is compatible with the manner in which individuals already spend money on stuff. It implies that people can easily and fast donate money when they feel like doing so. The donation option is an extension of the already existing payment system since individuals do not need to do anything. We also wanted to ensure that it is quick and easy to donate money and that is what we have done with donation feature.
Round-Up and Preset Donation Benefits.
When individuals purchase an item that is not fixed but free to choose whether to round off the price to the dollar or if they would choose a stated price to give at the check out. This is how the donations, to the charity do not require small people to give when they do not want to and it is not difficult to do it.
Real-Time Donation Tracking
All donations are documented along with the transaction. One can easily tell the source of money and do the balancing of the books without the need to do it manually. All the donations will be registered along with the transaction such that the donation is precise and simple to balance.
Dashboard All-In-One Reporting.
The merchants have the opportunity to view reports indicating the amount of donations they have raised. The number of people attending these reports and what is occurring with time is also demonstrated in these reports. The merchants may have uses of these reports, such as accounting. They are required to pay off when they need to pay nonprofit organizations.
Merchant-Friendly Integration
The feature was to be compatible with the existing point of sale systems and digital checkout systems. In this manner people do not require much training to operate it.
Information
We came up with something whereby individuals can donate an additional amount of money during their check out. This thing allows them to collect what they are owing or offer a specified amount of money. We also record all the donations to enable us to know the amount of money being donated. This assists in attracting more donor people. It would assist the stores and the charity groups to find out how much money they are receiving as a result of the donations.
Results Summary
When we initiated the checkout donation feature more people started to donate. The reason behind this is that customers were able to tap money even as they were leaving off the counter. The individuals selling items noticed that there were higher numbers of customers who were giving the contributions and it did not cause slowdown in the process of making purchases. Customers could easily donate to the donation because the donation feature was a checkout donation option.
Business Impact
Increased donation at the checkout. Greater openness of merchants and nonprofit partners. Less working effort due to automated reporting. Better interaction with customers by means of easy, worthwhile giving.
Key Takeaways
It is quite helpful when the process is not difficult when people donate money. This we refer to as a frictionless check out experience. It predisposes people to donate money.
It is also very important to have transparent reporting since that will assist the merchants and nonprofits to build trust with one another.
When individuals have a choice of making donations it can actually pay off and make a huge difference.
FinTech platforms are applicable in making it easy to people to donate to charity. In streamlining the process of giving charity and simplifying the donation process itself by allowing individuals to donate to the charity of their choice through frictionless checkout experiences and transparent reporting can be part of the FinTech platforms.
Once we make donation options an element of the checkout procedure we have made giving a normal element of what people purchase on a daily basis. Now customers can do good with ease merchants have an easy time knowing what is going on and are in control and nonprofits receive donations they can count on and that they can clearly see.
The given project has shown that FinTech innovation can help to connect commerce and social influence, and make generosity simple, quantifiable, and expansive.