A social impact payment platform, claiming to be the first-of-its-kind in Australia, will allow business customers to make donations to charity with every transaction.
ImpactPay has collaborated with Mastercard to launch the prepaid debit card that will allow micro donations to Australian not-for-profits with every transaction.
Customers will be able to select the causes they wish to support via the app and set the donation amount. Users can then track the impact of their donations alongside the collective progress of their chosen project.
ImpactPay’s co-founder Adam Levine said the platform would harness the 598 billion cashless transactions that occur around the world annually.
“ImpactPay is not only a solution for Australian consumers that want simpler ways to donate, but it’s an innovation [that] Australian not-for-profit organisations can leverage to create connections with a new generation of donors,” he said.
“We want all Australians to have access to a payment platform that allows them to make a difference in the world. The gesture of giving as little as 10 cents for every tap is effortless, and if we can amplify that and combine everyone’s 10 cents, we can change the world.”
Mr Levine said ImpactPay will particularly target younger Australians, who he said “may not have deep pockets, but they have big hearts and an active social conscience”.
“With the right technology and mindset, we believe tribe members can achieve their day-to-day financial goals, and as a collective, create true change that has a lasting impact on the world around us,” he said.
Mastercard’s division president of Australasia Richard Wormald said Mastercard was proud to help support the innovative platform to create social change.
“Providing Australian not-for-profits with the technology and tools to reach a new generation of donors is such a simple but meaningful idea. As an organisation that is focused on doing well by doing good, Mastercard is very proud to partner with socially minded innovators like ImpactPay,” he said.
The platform was founded by Mr Levine and his wife Regina.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
- ‘Don’t assume how employees will react to redundancy’
By Simon Rountree
- Customers behaving badly: ‘My time is worth more than yours’
By Adam Zuchetti
- What businesses can learn from Sir Roger Bannister
By Adam Zuchetti