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Using Fintech for Good – How Contactless Solutions Are Increasing Giving Across the UK

The fintech company GoodBox remains dedicated to building fundraising technology that helps the charity sector to thrive in an increasingly cashless and digital society.

Since its inception in 2016, they have supported the sector by providing charities with a range of digital fundraising tools and award-winning contactless technology.

Pre-Covid, many charities had been slow to embrace new technologies, with a 2019 study finding that 52% don’t have a digital strategy, and 47% were concerned about keeping up with the pace of technology, but the restrictions placed on many non-profits during the multiple lockdowns has forced the sector to learn to innovate, adapt and also embrace technology.

The pandemic has also accelerated the UK becoming a cashless society which was already starting to impact traditional giving before 2020. Using the latest innovations, and digital-first strategies, charity fundraisers are increasing brand awareness, engaging donors, and raising vital funds even during this difficult economic period.

Charities are investing in technology that enables them to operate with minimal physical contact between volunteers and donors. Standing freely, the ‘tap-to-give’ contactless terminals allow charities to collect donations without requiring physical contact or the handling of cash. While getting started with contactless does require an additional outlay, figures from a 2019 white paper ‘Contactless Technology: Worth the Investment?’ show that charities can expect to quickly see a financial benefit in adopting this new channel.

Francesca Hodgson, Co-Founder and Chief Operating Officer, GoodBox
Francesca Hodgson, Co-Founder and Chief Operating Officer, GoodBox

According to GoodBox founder and MD, Francesca Hodgson, “84% of organisations who had purchased hardware saw a full return on investment within 12 months, with two organisations seeing a return in just one month. Even better news for charities with large public spaces, our free-standing devices see the strongest return on investment, at 1,384%.”

A recent report from the fintech firm showed charitable donations are at a new high as the country reopens and the UK public rallies to support non-profits across the UK. May 2021 was a record for donations with more raised across the network of contactless devices than ever before.  These trends mirror a recent white paper produced by GoodBox, ‘Charities and Coronavirus: Weathering the Storm’ which shows that during a recession, charitable giving often grows due to an increase in the public donating smaller amounts.

The firm was launched by Francesca Hodgson and business partner Andrew O’Brien after working for 10 years with non-profit organisations and seeing how desperately the sector needed digital innovation.

Francesca, commented, “We set GoodBox up to tackle the “devastating impact” the pivot to a cashless society was having on charities as hauls from physical currency boxes plummeted”.

The business has recently raised over £9m in investment, was backed by tennis star Andy Murray and now has over 1,500 UK charity partners who have adopted the contactless technology. The tech for good business has more than 5,000 devices accepting contactless donations nationwide and thanks to the generosity of the UK public, it has recently reached two key milestones, 1 million individual donations and over £6m in donations raised for its charity partners. Its innovative tools have helped increase charity’s incomes by as much as 85% through their portfolio of contactless fundraising solutions.

The fintech’s range of digital fundraising tools and award-winning contactless technology are used by museums, charities, religious organisations, theatres, retailers, and many other organisations to reach new donors, raise more funds for incredible causes and tell their stories more vividly. The company has also partnered with the likes of Sainsbury’s and Pret a Manger to expand charity partners’ reach and awareness of contactless giving across the UK.

GoodBox has just launched a new podcast series, GoodTalk, and has already secured some truly amazing guests for the first series, including Steve Clayton, Head of Storytelling at Microsoft, The Lord Mayor of the City of London, and Bernie Hollywood OBE.

Discussing the future of the company, Francesca added, “The future for GoodBox is certainly bright and we have lots of exciting things happening in 2021 and beyond. Following the launch of our podcast series, which I have the pleasure of hosting, we are also launching a national awareness campaign this December, Contactless Giving Week. This important date in the calendar will raise awareness of the importance of contactless giving for the not-for-profit sector and encourage the UK public to get involved and tap-to-give when they see devices across the UK.”

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