New social enterprise, For Good Causes, has launched, enabling people to convert their unused loyalty rewards into cash for their favourite charities.
For Good Causes aims to work with as many of the UK’s 200+ loyalty programmes as possible starting with Quidco, the UK’s largest cashback service. For Good Causes seeks to raise £100m in the next five years through developing new ways for people to give to the charities that they love.
Quidco’s 7 million members now have the option to donate their earned cashback to a charity of their choice through For Good Causes. Since starting in 2005, Quidco members have earned over £400 million in cashback, with the average Quidco member earning £305 a year.
For Good Causes also launches its digital charity gift card. This new ‘gift of giving’ is the first time that a gift card can be given to the charity of the recipient’s choice. It’s available from launch partner Giftcloud and the For Good Causes website.
Through distribution partner, Charities Trust, any UK registered charity can receive funds from For Good Causes. For Good Causes welcomes charity partners to work closely with them to maximise the funding opportunities and currently have 15 partners including Walking with the Wounded, Alzheimer’s Research UK & Prostate Cancer Research UK. Charities are urged to get in touch and take part.
Founder and CEO, Crispin Rogers, explains the idea behind For Good Causes: “There is so much cash sitting unspent in the form of cashback, points or miles in over 300 million loyalty memberships. That’s a lot of people who could opt to donate their unused rewards to their chosen charity without even having to dip into their pockets.
“We’re working with the loyalty and charity sectors to create a brand new currency for giving. People love the idea. 66% of people we spoke to said they would give their unused loyalty rewards to charity, with millennials being the most likely to do so (77%). 54% would also buy a charity gift card for donation to their favourite charity. It’s incredible to think that in a £6.5bn gift card industry, this is the first time that people can do this.”
Says Quidco’s Managing Director, Andy Oldham: “We’re thrilled to be launch partners with For Good Causes. It’s a unique initiative in the UK and gives our members the choice to do some good with their rewards and help a charity close to their hearts. It adds a progressive social change value to our offer, which we know is increasingly important to consumers. We’ve already transformed the way people can shop and we can now be part of the movement to transform the way they can donate to charity. It’s a win-win all round.”
To read the fill Charity Digital News article click here.