New banks

Revolut launches charity feature Donations

  • Revolut introduces new charitable giving feature.
  • 5 million users can now donate their spare change or make recurring donations.
close

Email a Friend

Revolut launches charity feature Donations

UK challenger bank Revolut has released a new in-app feature called Donations, which allows customers to round up their card payments and donate the difference to charity.

What is it: Using a round up feature, five million Revolut users can donate spare change to charity. There’s also the ability to make one time and recurring payments. Revolut doesn’t require a minimum donation amount and the feature can be turned on and off by customers at any time.

Which charities are included: For now, Revolut users can donate to three international charities: LGBTI charity ILGA-Europe, Save the Children and WWF. The company plans to roll out more charity options later this year. The company claims it charges no fees and charities will receive 100 percent of donations.

“Supporting social causes is both important to us as a business, and to many of our customers,” said Nik Storonsky, founder and CEO of Revolut. “Complicated sign up processes and scary commitments can put a lot of people off, so we wanted to build a feature that would enable our customers to support good causes in a seamless and secure way.”

Fintechs combine payments and charity: Popular financial apps are finding ways to make it easier for their users to donate. Robo-adviser Betterment enables charitable giving for its account holders to donate stock. PayPal users can donate to charity without paying any transaction fees. in/PACT offers an integrated giving solutions for digital banking and loyalty providers, enabling people to support their favorite charities.

0 comments on “Revolut launches charity feature Donations”

New banks

Behind Upgrade’s move to add BNPL capabilities

  • Upgrade is adding BNPL to its personal loans and payment cards, but with a twist.
  • The company also intends to make a push to bring BNPL payments offline and into shops.
Subboh Jaffery | October 08, 2021
New banks

9 insightful things overheard at Tearsheet’s 2021 Convergence Conference

  • Tearsheet's Convergence Conference set the tone on how banks, investment and payment firms, and fintechs are planning their product roadmaps.
  • It's clear that the trend of rebundling the bank will continue, as we see the emergence of super apps.
Tearsheet Editors | September 30, 2021
New banks

‘We’re in a constant beta state’: How Citizens Bank is adapting to the post-Covid needs of young consumers

  • Citizens Bank is targeting a younger demographic of customers with its national, digital offerings.
  • That means rethinking its branch network and upgrading its products and services to match the needs of the modern consumer.
Ismail Umar | September 29, 2021
New banks

Convergence Conference 2021: All session videos

  • Tearsheet's 2021 Convergence Conference looked at how FIs and fintechs are becoming financial super apps.
  • Here are all the session videos from the event.
Shabih Rao | September 27, 2021
New banks

Get access to all the session videos from the Convergence Conference 2021

  • Tearsheet's 2021 Convergence Conference looked at how FIs and fintechs are becoming financial super apps.
  • Here are all the session videos from the event.
Tearsheet Editors | September 27, 2021
More Articles