Sporting Chance Prize Draw partners with Volt

Sporting Chance Prize Draw, a UK-based non-profit, has partnered with Volt to bring safer payments to the community and donors.

Volt’s open banking solution will enable Sporting Chance Prize Draw to collect donations from contributors through real-time account-to-account transfers, speeding up the payment process for participants across the UK.

Simplifying the donation process was critical to the Sports Chance Prize Draw’s goal of doubling its impact by 2023. Volt’s real-time account-to-account payment gateway meets this critical demand, minimizing friction and increasing conversion.

Donations are accepted online with a minimum of £10 and every pound received is donated to one of 30 charities. Winners will be drawn immediately after the draw closes on March 31st and winners will be contacted via email.

There is a tremendous opportunity for a payments revolution and for organizations of all sizes, including nonprofits, to securely accept real-time payments through a single streamlined experience. Volt will provide the payment solution to allow donors and participants to contribute, but also cover any payment transaction costs not paid by the donors.

Volt’s recent partnerships

Volt is building the world’s real-time payment infrastructure. Its network of networks connects the global payment systems from account to account, allowing businesses around the world to accept account-based payments from customers in real-time. Volt has had a productive year so far. In February 2023 alone, three collaborations were signed, the first with Xolvis. The company has set itself the goal of digitizing the entire aftersales business of workshops in the automotive, bicycle and aviation sectors and now enabling its users to have a safe shopping experience for their customers.

MiFinity later announced the debut of the MiFinity Quick Bank Transfer product, an open banking solution powered by Volt. Following this launch, MiFinity customers will be able to fund real-time directly from their bank account to their personal e-wallet via an account-to-account service.

Finally, Tazapay partnered with Volt, a payment gateway, to add open banking to its payment options. Tazapay’s customers will be able to expand and increase their cross-border sales as a result of the agreement, particularly APAC and MENA merchants looking to expand and increase their sales in the UK and Europe.

The future of payments to charity

Even for nonprofits, traditional card-based giving options come with card processing costs. And charities may have to wait a bit for the funds to hit their accounts. Then there are donation platforms that charge a service fee or refuse to pay out as long as the foundation has not fully met its funding goal.

Previously, internet fundraising platforms accepted card payments, which take time to reach organizations and incur costs (usually paid for by the charity if not additional contributions from donors). Instead, Wonderful uses the power of A2A payments to send 100% of the gift directly and promptly to the charity, with no duties or fees.

Because not all payment companies handle donations, organizations may need to create an intricate network of partnerships to facilitate donations. Card processing fees can be avoided by adopting open banking and account-to-account payments, allowing the nonprofit to continue its expansion unchecked.