Pennies, a UK-based fintech and digital charity box, has reportedly surpassed 70 million in consumer digital donations. Founded in 2010, Pennies revealed it is creating a “unique digital ecosystem” by using new technology to unlock millions of pounds in new giving.
“Designed to fit with our increasingly cashless lifestyles, giving though Pennies’ digital charity box offers people the opportunity to quickly and privately donate a few pence to charity when paying by card with the single press of a button or click of a mouse. The option to give appears automatically in the payment process, on the Chip & PIN machine in-store or just before payment online or via a smart device. Retailers choose the charities they wish to support and decide the donation amount, allowing them to boost their charity fundraising and association with good causes.”
According to Innovate Finance, CEO of Pennies, Alison Hutchinson CBE, stated that the platform has already enabled around 2,000 micro-donates per hour. She also shared:
“But we are only at the tip of the iceberg; if every card holder in the UK gave just 30p a day, £190M could be annually raised for vital causes and communities across the UK and beyond. We are excited about the increasing number of payments and technology firms approaching us to join the Pennies movement due to demand from their retailer customer.”
Pennies has notably secured over £18 million for more than 400 UK charities and was highlighted in Harrington Starr’s Financial Technologist 175 Global Fintech Influencers in 2019.