Etsy is the first company to leverage Adyen’s Giving round-up feature, allowing customers to round-up their totals to donate.
Adyen the global financial technology platform of choice for leading businesses, and Etsy, which operates two-sided online marketplaces that connect millions of passionate and creative buyers and sellers around the world, announced today that Adyen has enabled ten million Etsy buyer donations to the Uplift Fund, administered by the Brooklyn Community Foundation.
Latest Fintech News: Vroom Announces Pricing of UACC Auto Loan Securitization
Etsy launched the Uplift Fund with the Brooklyn Community Foundation in February of 2021 to give its buyers an opportunity to join them in supporting creators who face barriers to building successful businesses. When US shoppers check out on Etsy, they have the option to round up their purchase price and donate to the Fund via Adyen.
“Adyen’s solution has enabled us to seamlessly engage the Etsy community in supporting our Uplift Fund,” said Morgan Blake, VP of Payments at Etsy. “It’s been amazing to see how a small change in checkout can have such a major impact, especially as the past few years have highlighted the gap in resources available to many communities who are eager to use their entrepreneurial talents.
Latest Fintech News: Supermojo Announces Completion of Seed Round to Streamline NFT Access
“Partnerships like this one with Etsy and Adyen encourage and simplify the process for people to give to charitable causes. That’s what we’re seeing here, with the remarkable milestone of reaching 10M buyers,” said Jocelynne Rainey, President and CEO, Brooklyn Community Foundation. “We are thrilled to host Etsy’s donor advised Uplift Fund to support nonprofits nationwide that work to dismantle barriers to building a successful small business.”
“We’ve seen great traction with Giving and we are thrilled to reach this milestone with Etsy,” said Ingo Uytdehaage, CFO at Adyen. “Etsy has been a key partner in building out our Giving solution, including the round-up feature. By combining strengths with Adyen’s technology and Etsy’s two-sided marketplace, we were able to come together to find a solution that drives impact, in line with the UN’s Sustainable Development Goals. We can’t wait to see what else we accomplish together.”
Giving is a product that enables Adyen’s merchants to accept charitable donations during the online and in-store checkout process, and allows them to strengthen their bond with their shoppers by providing a platform for their preferred charitable causes. By doing so, Giving converts shoppers’ good intentions into additional revenue streams for charitable causes. With a single tap on a point-of-sale terminal or the click of a button at an online checkout, shoppers can donate to the merchants’ charity of choice. Giving transactions seamlessly integrate into existing checkout processes across all payment channels, and shoppers’ donations are reported and settled to the charity of choice directly without impacting the merchants’ existing reconciliation flow.
Latest Fintech News:Â Lincoln Financial Group Names James Reid Executive Vice President, Head of Workplace Solutions
[To share your insights with us, please write to sghosh@martechseries.com]
