Australians are embracing contactless and digital wallet payments for charitable donations, with new CBA data showing a significant rise year-on-year, in both the number (55 per cent increase) and value (61 per cent increase) of charitable donations made using a digital wallet.¹
To help charities adapt to changing consumer behaviour, CBA has launched the new Smart Giving app2 to offer a convenient way to accept donations via CBA’s Smart EFTPOS terminal. Features include pre-set or custom amounts, and automatic donation receipts which donors may use to claim income tax deductions.
CBA Executive General Manager Everyday Business Banking, James Fowle, said: “We know the way businesses receive payments is continuing to go digital, so it’s natural this would flow-on to charity organisations. The Smart Giving app allows for a smooth ‘tap-to-donate’ payments experience. Australia’s charity sector plays a significant role in both our national economy and local communities and Smart Giving offers convenience and more flexibility for both donors and charities.”
Our Community is a social enterprise providing training to Australia’s 600,000 not-for-profit organisations and schools. Its Group Managing Director, Denis Moriarty, believes the new app is set to help charities across the sector that have struggled to keep up with digital payments.