Change for Charity
UK debit cards transactions overtake cash for the first time. It’s not surprising that less and less people are carrying cash when there are quicker ways to pay such as contactless cards and apple pay.
People much prefer to just ‘tap and go’ rather than have the fuss of working out the right change. As people aren’t carrying change it could impact charities and homeless people that rely on the generosity of people to donate their spare change. Charities have been warned that they need to look at ways people can donate electronically. A platform that blew up in the last couple of years was GoFundMe. This is a way charity can go online and register so people can donate online, these are often then promoted on social media.
Although there is some good news for charities, an increasing number of people are shopping in charity shops. Gift Aid is a scheme enabling charities to reclaim tax on a donation made by a UK taxpayer, effectively increasing the amount of the donation. Don’t carry change anymore? Be sure to gift aid when donating anything to charity.