Stripe-led app will help charities keep 100pc of donations
Irish online payments firm Stripe is to power a new app that will allow charities to bypass texting campaigns to keep 100pc of their donations.
The app, Tendo, will pair up with major brands such as Ballygowan and Supermacs. It functions by allowing users to 'buy' items, such as a Supermacs burger for €5, the value of which will then be donated to the user's chosen charity.
It will allow charities to bypass charges that are typically levied on donations made by text, such as fees charged by telecommunications operators and regulators, which can top 30pc of donations.
The app is being designed and operated by Paddy Coyne, who runs Galway-based website design and marketing company Western Webs. All payments will be made through Stripe accounts.
Charities that handle their own accounts wil be charged a nominal fee likely to be in the region of €1 a month, while charities that would prefer to let Tendo handle their accounts will only be charged transaction fees in the region of 5pc of donations.
Mr Coyne said that having Stripe on board has been a major boost for the app, and could potentially help it break into the international market.
"We couldn't do it without Stripe it is very much a product designed for the online world. Stripe have a worldwide reach, and they've just broken into China, it allows us to go all over the world straight away," he said.
Tendo will be launched and go live online at the Web Summit on Thursday. Stripe co-founder John Collinson will also attend the launch.
Sunday Indo Business