Charities may be missing out on an estimated £80m in donations each year by only accepting cash donations, payments business Barclaycard has found, as four in ten (42%) Brits say they carry less cash now than they did three years ago.
According to the research from Barclaycard, one in seven (15%) people admit to walking away from a donation opportunity at least once last year because they were unable to give using a debit or credit card. This comes amidst predictions that cash will shift from accounting for roughly half (45%) of all payments made in 2015 to just one in four (27%) by 2025 – with debit card payments predicted to overtake notes and coins by 2021.
To help charities adapt to evolving consumer behaviours, Barclaycard recently led a trial of 100 portable donation boxes, the first in the market to accept both Chip and PIN and contactless donations including those made by wearable and mobile devices.
Eleven national charities kicked off the trial in September 2016, using the lightweight, portable payment boxes in a number of different ways according to their fundraising needs – from volunteers roaming with boxes at special events to placing them next to the checkouts in charity stores.
Although it was only a short trial, the charities took more than £20,000 in donations – including one for £1,000 given to the NSPCC – and reported positive responses from the public around the ease and flexibility the boxes introduced for donors looking to give to their preferred cause.