New “Always on” Micro-Donations Drives Charitable Contributions from Gen Z and Millennials
Liquidity Financial announced a collaboration with Visa, a world leader in digital payments, to launch the Visa CauseCard, the first debit card that provides “always on” micro-donations. Whether charitable giving declines are due to financial uncertainty or the shutdown of popular donation platforms, charitable organizations are forced to look for alternative ways to bring in a steady stream of financial support. The introduction of CauseCard into everyday spending is the newest way to offset this loss of donations without requiring donation fees from either the cardholder or charities.
CauseCard’s genesis sprung from a desire to increase funding volume and consistency to charitable causes, especially those supported by Gen Z and Millennials. Recent cost-cutting efforts around charitable giving programs have accelerated the need to bring other options to charities that rely on a steady stream of both large and small donations. With CauseCard, every purchase is a charitable giving opportunity. Some of the top charitable organizations worldwide, charity: water, Heifer International, Equality Now, TEACH, Humane Society, and the Environmental Media Association, as well as dozens more of the most popular and important charities in the US, are already on-boarded and have been enthusiastic about the support communities can lend via the use of CauseCard.
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How CauseCard Works
Signing up for CauseCard is as easy as spending. As long as you have a US bank account, you can be approved. After linking your account and transferring funds to the CauseCard debit card, a couple of questions will match you with a community raising money and awareness for a common cause. At any given time, a simple tap feature within the CauseCard app allows users to quickly change your selected cause allowing them to donate to urgent causes that need immediate attention. With every purchase made, CauseCard will donate a portion of the transaction fee (up to 0.75%) to the users’ cause of choice. CauseCard holders are also able to increase their charitable giving for a fundraiser by rounding up change on purchases or giving a direct donation. Any additional donation given by a user is 100% tax deductible.
Meeting the Needs of The Next Generation of Giving
Today, the average age of donors to charitable causes is 65 and the average amount donated is $813, with December marking the highest giving month[1]. “Baby Boomers” are donating 80% of the money that goes to today’s charities, with the remaining 20% coming from the Millennial and Gen Z generation. Together, Visa and Liquidity Financial are setting out to make charitable giving more accessible, mobilizing individuals that have the passion and power to make a change. In doing so, the companies aim to increase funding for social, environmental, and human rights causes through everyday purchases made with the Visa CauseCard.
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“In today’s world, we have the freedom to choose products and services that align with our interests and values, whether it’s the car we drive, the clothes we wear, or the food we eat,” said Ryan Fujiu, Founder Liquidity Financial. “However, banking and spending have traditionally been limited in this regard. That’s why we created CauseCard – to empower younger generations to align their spending habits with their values and make a positive impact on the world.”
CauseCard knows that there are endless ways to contribute to local and global issues, which is why the CauseCard will act as a hub, allowing users to explore and learn about pressing causes that deserve attention and the charities that create the most impact. Where your money goes is important and charitable giving is a part of one’s identity. CauseCard’s unique approach is proof that an otherwise uncontemplated part of life can possess the ability to serve the greater good in as many new ways as possible.
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