A new debit card, ImpactPay, will give all Australians the opportunity to find meaning in their tap-and-go card transactions. Through a new smart digital wallet, users can accomplish humanitarian change, drive breakthroughs in healthcare, deliver global education and support local initiatives every time they make a purchase.
ImpactPay founders, Adam and Regina Levine, saw an opportunity to tap into the collective power of micro-giving; developing a platform that enables Australians to support the causes of their choosing with each payment or transaction, using this world-first debit card.
“More than 577 billion non-cash transactions take place every year; what if we could harness that to do good? It’s second nature for us all to use our debit cards without thinking twice, however, there is more to money than just spending,” said Mr Levine.
“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,” added Mr Levine.
ImpactPay will issue users (tribe members) with a pre-paid debit card powered by Mastercard and a smart wallet app integrated into their mobile phones. The platform is inspired by blockchain technology; providing enhanced transparency so users know that donations go directly to the projects they choose to support.
A “Be Good & Do Good” philosophy sits behind the new venture; encouraging tribe members to Be Good with their money and take control of their weekly spending budget, as well as Do Good by making a positive social impact via their daily transactions and purchases.
“Younger Australians 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,” said Mr Levine.
The ground-breaking payment platform is also expected to revolutionise the fundraising sector, where currently just one third of cause entities are able to receive donations through mobile channels*. With limited ability to fundraise through a mobile digital solution, these organisations have been closed off from connecting with the key growth market of next generation givers – those aged 18 to 35 with a preference for smart technology.
“Given the unique aspects of our core target market, we developed our technology through a design-driven lens and built the functionality and useability based on a deep analysis of preferred human engagement models,” said Mrs Levine.
ImpactPay is the first global platform ever created to bring together a large collection of charities and community groups, giving users the choice over who they donate to, and how they do it, with the flexibility to update their projects and donation preferences at any time.
A variety of not-for-profit launch partners will be announced in August 2018. Tribe members will also be able to nominate local projects to support, such as a sports team or school groups.
ImpactPay is a secure and transparent micro-giving platform, compliant with all relevant regulatory and security requirements.