Fintech firm For Good Causes, which helps consumers donate their unwanted rewards to charity, has launched officially this month, with BP and Rakuten among the new brands joining the platform.
For Good Causes unites hundreds of brands and retailers with more than 20,000 charities and enables consumers to convert their loyalty points and rewards into digital monetary donations.
Wendy Martin, Chief Marketing Officer at For Good Causes said:
“We’re on a mission to raise £500m for UK charities over the next 5 years. By empowering consumers to donate their rewards to their favourite causes, we’re enabling charities of all sizes – big and small, national and local – to benefit from this brand-new income stream.”
The Koin Rewards App, which includes brands such as Neals Yard, Able & Cole, Ecotricity, and Elvis & Kresse is also joining the platform, and its existing partners, which range from Vodafone, Quidco, and Pure Planet, to Yulife, Perkbox, Sodexo, Gift Cloud and WeGift.
Thousands of Vodafone customers have donated their rewards so far with points being converted to an average charity donation of £6.49 per customer. In one month, Vodafone consumers donated to 850 different charities.
Overall, For Good Causes generated donations to over 1,750 charities throughout its pilot and charity partners participating in the launch include Macmillan Cancer Support, Great Ormond Street Hospital Charity, Combat Stress, The Trussell Trust and NHS Charities Together.
Louise Parkes, Chief Executive at GOSH Charity, commented:
“Now more than ever, we are relying on the generosity of our supporters to be able to continue supporting the hospital to deliver the very best care to seriously ill children from across the UK. Making it easy for people to donate by using rewards they’ve earned in their daily lives is a fantastic way of raising vital funds, and we’re thrilled to be one of the charities involved in this initiative.”
Sue Freeth, Chief Executive at Combat Stress, added:
“We are 90% dependent on public donations to deliver our life-changing and life-saving services to former servicemen and women across the UK with complex mental health problems. The cancellation of crucial fundraising events during this pandemic has impacted our ability to support veterans, so we’re delighted to be partnering with this fantastic initiative that has come at a critical time for charities.”