PocketChange takes 0% of your donation.
That’s one of the things that we’re most proud to be able to say.
Here’s how we do it, & remain a for-profit social venture:
We think we’ve figured out a way to engage great companies in activism so we can continue to:
(1) Create massive change in the world.
(2) Develop a tool that everyone loves using.
(3) Keep PocketChange rapidly growing so we can fund innovative methods to benefit the non-profit sector for exponential impact.
Here’s what we do. Pretty soon, you’ll start seeing brands or companies’ logos popping up when you’re supporting causes on PocketChange. These brands will be matching your change to a cause they, and you, care about. For example, if “Soda Company” cares about clean water, and you click on a post to support clean water, their brand will show up as a sponsor for that cause. “Soda Company” will then match your giving and double your impact for the cause.
They do this because good brands are change makers – they care about causes just like we do. Brands use their corporate social responsibility and marketing budgets to double donations. The brand pays PocketChange a sponsorship fee for enabling them to be the sole partner matching all change to that specific cause.
Why is this awesome?
This strategy is great for the brands because they get to show people they care, not just tell them, which helps their perception and therefore their sales.
It’s great for you, our users, because we don’t have to take any percentage of your donation. And you get to give twice as much at no additional cost (woohoo!)
It’s great for PocketChange because we are not motivated by high dollar donation amounts like the rest of the industry, instead, we are motivated by simply engaging people to take action when they can. (And we work with awesome companies to get the world excited about caring too!)
Most importantly, it’s great for the world, because twice the amount of change is being sent to the most impactful organizations solving world problems at the root.
Pretty sweet right? All of that is what’s in the background of the simple, 3-word statement:
PocketChange takes 0%.
We bucket your PocketChanges in $5 groups, which reduces fees by 54%, however, micro-transaction credit card fees still apply. PocketChange is all about transparency, so on a $5 PocketChange bucket, here’s exactly how the money is split:
On a $5 transaction:
Stripe/Credit Card micro-processing fee: 2.9% + $0.30
The Charity: $4.55
If we processed per transaction, and our average PocketChange is $0.50, that would be $0.18 going to the charity, with 62.9% fees.
We’d love to see these fees go down, and we’re working on it. If you are someone or know some at Stripe that could help us get lower fees for social giving, shoot us an email at email@example.com