MissionFish, the charitable arm of online trading site eBay, has been rebranded as the PayPal Giving Fund. As part of the change, PayPal, which is owned by eBay, will pass 100% of charitable donations made using the eBay for Charity service to the charities.
Previously, MissionFish charged a small percentage to cover its operating costs.
MissionFish was established in 2003 and expanded to serve UK charities in 2006. Internationally it has helped raise over $250 million. In the UK it has raised £42.3 million for over 7,248 charities since 2006.
By covering all the costs to charity partners in the eBay for Charity service, PayPal will be freeing up an estimated £250,000 a year for UK charities.
The agreement affects only donations to charity via the eBay for Charity service. It does not affect donations to charities via PayPal using other methods.
A PayPal statement advised that it "will be investing in further enhancements to our platform so that we might leverage the incredible benefits of their technology and payment systems to inspire and enable more giving around the globe".
The MissionFish name and brand is expected to disappear in the next six months.
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