GiveWise Case Study | Charity Payments Case Study

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Integration Time

4 weeks

Intro

The GiveWise Foundation Canada stands out as a leading digital platform in Canada, dedicated to facilitating meaningful donations through Donor Advised Funds (Giving Funds). Its fundamental mission is to close the gap between donors and charities, simplifying the journey towards making significant, transformative donations.

In today's dynamic economic landscape, Canadian charities face a pressing challenge: an increasing demand for their services against a backdrop of declining donations. Compounded by the inefficiencies of traditional payment systems, this situation poses significant hurdles for the charity and non-profit sectors.

Recognizing these challenges, GiveWise sourced a payment partnership with VoPay to help them overcome the industry's longstanding payment obstacles.

The Problem

Organizations in the charitable sector grapple with the inefficiencies of outdated payment processing methods, significantly impeding their operational efficiency. Traditional donation methods, like cheques and bank transfers, suffer from lengthy processing times, leading to delays in fund allocation and a lack of financial transparency that complicates cash flow management. Furthermore, the complex and resource-intensive nature of reconciling these transactions diverts attention and resources away from charities' core missions. High transaction fees also reduce the total amount of donations received, limiting the impact charities can have.

For GiveWise, addressing these payment processing challenges was vital. With donors and charities seeking secure, hassle-free donation methods, the platform needed to provide an efficient, compliant, and straightforward payment solution that would meet the needs of its users.

• Recurring Donations - It can be hard to keep donors coming back to donate on a regular basis without simplified payment options
• Visibility and Reconciliation - Matching incoming donations with their destination is labor and time intensive
• Slow Disbursement Times - Donations are slow to be processed and slow to be paid out, which can affect the organizations that depend on the funds

The Solution

Integrating VoPay’s API, GiveWise revolutionized its donation processes with automated, secure digital pre-authorized debits, facilitating a more efficient flow of funds.

By collaborating with VoPay, the platform enhanced the donation experience, encouraging donors to give more frequently. Faster and more transparent fund disbursement allowed charities to concentrate more on their missions and significantly lightened the administrative load.

By partnering with VoPay, GiveWise prioritized the ease of setting up recurring donations from any device, ensuring faster payment flows and complete transparency throughout the donation process.

VoPay's eLinx solution simplified how charities received payouts. With this payment solution, organizations could quickly access funds via payment link details sent via email, text, or URL. This payment link securely stores bank account details and streamlines the entire process of fund deposits for charities.

• Digital Pre-Authorized Debits - GiveWise has simplified recurring payments for donors with its straightforward bank connection and PAD workflows
• Ledger Management - GiveWise gained automated segregation of incoming funds into individual ledgers and accounts, enhancing financial management
• Faster Payment Methods - As well as faster EFT payments via Pre-Authorized Debit, GiveWise was able to offer real-time Interac e-Transfers to donors

The Results

With VoPay’s payment API integration, the charity platform achieved impressive results, marking a new era in charitable giving. VoPay’s payment solutions have streamlined the donation process and significantly boosted the efficiency and impact of philanthropic efforts across Canada.

During a time when donors were giving less in Canada, GiveWise was able to increase donations by 44% on a year-over-year basis. Thanks to faster money flows, charities were able to access these donations quickly and easily, helping them achieve their charity objectives faster. In addition to increased donations, the overall experience the donors had with GiveWise improved massively, with easy recurring payments and simple bank connection workflows.

• Increased Donations - Charities on GiveWise experienced a 44% increase YoY in donations, with a 173% increase in the dollar value from donors
• Better Financial Management - GiveWise has greater visibility into incoming and outgoing funds for full control of assets
• Streamlined Online Process - Digital PADs, bank account connection and easy recurring payments made more users flock to the platform

"The experience donors have with your charity are compared to their experience with the Amazon’s and Netflix’s of the world. This means that they are now expecting personalized and relevant communication journeys, easy payment experiences, and intuitive website design.”

Canada Helps - The Giving Report 2023