Cutting a charity’s overhead costs and improving its donors’ experience with Lloyds Bank PayFrom Bank.
Read time: 4 mins Added: 04/11/2021
The Covid-19 pandemic brought new challenges for the charities sector, not least reduced donation levels and disruption to face-to-face methods of fundraising.
The Lloyds Bank Charities team is helping mental health and disability charity United Response tackle these challenges head on using the Lloyds Bank PayFrom Bank solution – strengthening its digital donation channels by giving its supporters more choice and convenience in how they gift, while helping the charity cut costs and receive nearly instant settlement of funds.
PayFrom Bank leverages application programming interface (API) and Open Banking technology to allow donors to securely make a donation directly from their bank account without the need to enter in any payment details at all. This improves the donor experience and bolsters donation conversion rates by reducing the chance of supporters dropping-off mid-way through the payment process.
The solution runs through the UK’s Faster Payment service, meaning that gifted money arrives in United Response’s bank account almost instantly – slashing what could otherwise be a wait of three days or more for payments made through traditional card channels.
And it is reducing the charity’s overheads by removing the need to pay a percentage of each donation in card payment processing fees, instead costing a simple flat amount per transaction.
Darren Worthy, fundraising lead at United Response said: “The Lloyds Bank PayFrom Bank solution was straightforward to implement and our donors now have an additional simple and easy to use payment method when donating to us – helping to improve conversion rates, especially when using a mobile. Also, it’s great that funds arrive more quickly and at lower cost to us.”
Hayden Kaya, Lloyds Bank Commercial Banking, said: “With PayFrom Bank, gone are the days of needing to remember and enter card or banking details, making the payments process as streamlined – and as easy – as possible. United Response is a great charity doing exceptional work. We’re incredibly proud to have been able to apply our technological expertise to help transform its donation processes and ultimately help it do more with the generous gifts of its supporters.
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