Pennies will give consumers the option to donate a few pennies of electronic change with a single click, bringing the age old habit of dropping coins into a charity box on a shop counter up-to-date across online and mobile shopping channels.
Most charities expect their annual income to fall significantly in the coming years due to current economic conditions. Pennies plans to harness the power of micro-donations through debit, credit card and e-commerce transactions. Over three years, Pennies will establish a mobile channel and expand its online offering, raising £7m for UK charities. The long term vision is that wherever people use cards or mobile, they can donate electronic pennies, ultimately raising an additional £50M annually for charities worldwide.
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