With every purchase, people can effortlessly donate their spare change to a favorite charity or cause using Coin Up, compiling nickels and dimes to change the world
What is your spare change doing to change the world? With the formal launch of the official Coin Up mobile donation app – it is easier than ever to donate your “virtual spare change” and make a real difference in the world. The new app has been designed to help people virtually round up their transactions from their debit or credit card, and effortlessly give to their favorite charities. Making a difference for your favorite cause doesn’t get any easier than that!
“We are excited about the launch of Coin Up and all that it can to do help charities and their missions,” explains Leena Patidar, co-founder of Coin Up. “Most people want to donate to charities, but get caught up in their day without a thought for giving to their causes. With Coin Up, once a user registers their debit or credit card and sets a limit, the spare change from their daily purchases will go directly to the charity of their choice on an ongoing monthly basis.”
The shifting marketplace towards a cashless society means physical spare change is no longer being carried around or added to the donation efforts at cash registers, airports, etc. However, spare change giving has been a major source for many charities. Nonprofits, such as the Ronald McDonald House, collected $50 million worldwide in physical spare change in 2013. This reflects the significance of many individuals donating incrementally, while allowing the compounding to create major charitable impact. Additionally, with 84 percent of millennials contributing to charities, mostly through their mobile phones, there seems to be a significant opportunity for a mobile donation app to further simplify and to create convenient vehicle for donating.
The Coin Up app is easy to use. Simply download it for free from the Apple app store, select your charity of choice, register your debit/credit card and set a monthly limit for the spare change round up. Once registered, users can monitor their transactions and see the impact of their rounded up transactions. For example, if the purchase is $3.35, the transaction will be “virtually” rounded up to $4.00 within the app. The app will calculate this $0.65 along with the other rounded up spare change until the monthly limit is reached (or the end of the month, whichever comes first). At the end of the month, the debit/credit card will be charged and the proceeds (less transaction fees) will be sent directly to the charity of your choice.
Benefits of using the Coin Up mobile app to make “virtual spare change” donations to charities include:
- Donating with confidence. The app makes donating simple, automated, and convenient.
- Secure technology. Coin Up uses a safe and secure bank approved and encrypted technology platform that tracks and rounds up credit and debit card purchases.
- Maintaining Control. Users set a monthly pre-determined maximum of what they want to donate each month, controlling the amount they give.
- Tax Deductible Donations. Donors will receive a tax donation receipt at the end of each year reflecting their charitable donations.
“We all want a society that helps more people and creates positive change so that we have a better place to live,” added Scott Graham, co-founder of Coin Up. “We have just made it easier for people to do just that. They can drink their latte or get their pedicure, but they will know that at the same time they just gave some spare change to help make a difference in the world. It’s all about the power of incremental change.”
The Coin Up app was created by Leena Patidar and Scott Graham. Leena is a MIT/Sloan graduate, a serial entrepreneur, a certified public accountant, and has a certificate of achievement from Harvard Business School with a “Management Development Non For Profit Program.” Scott, who has been featured in numerous renowned national publications, is an ambitious visionary, an award-winning entrepreneur and graduate of Fresno State University. Both have been passionate about developing a social impact company that can make a world of difference. As a result, they worked together to create the Coin Up mobile donation app, providing a unique technology platform to nonprofits, while allowing donors to incrementally give to causes they are passionate about.
The Coin Up app is free to download and free for charities to register.