Commonwealth Bank of Australia has rolled out an app that enables charities to accept digital, contactless donations.
As the move away from cash gathers pace, CBA research shows a significant rise year-on-year, in both the number (55% increase) and value (61% increase) of charitable donations made using a digital wallet.
To help charities adapt, the bank has launched the Smart Giving app, which helps them accept donations via its Smart EFTPOS terminal. The app includes pre-set or custom amounts, and automatic donation receipts which donors may use to claim income tax deductions.
CBA executive GM, every day business banking, James Fowle, says: “We know the way businesses receive payments is continuing to go digital, so it’s natural this would flow-on to charity organisations.
"The Smart Giving app allows for a smooth ‘tap-to-donate’ payments experience. Australia’s charity sector plays a significant role in both our national economy and local communities and Smart Giving offers convenience and more flexibility for both donors and charities."