NONPROFIT MANAGEMENT, NONPROFIT TECHNOLOGY

GIVECARD and HIGHNOTE Launch Prepaid Debit Card To Revolutionize Direct Giving in the U.S. Nonprofit World

GiveCard | August 25, 2022 | Read time : 03:46 min

Givecard news
GiveCard, a nonprofit organization that uses financial technology to power direct giving to the most vulnerable communities, has partnered with Highnote, the world’s most modern card issuance platform, to launch a new prepaid debit card program. This enables shelters, non-profits, and governments to scale cash transfer programs and quickly serve the needs of their target community.

About 45% of the 1.8 million registered non-profits in the US have budgets set aside for providing assistance to low-income and vulnerable individuals. In the past, this budget was allocated mostly to providing services. However, recent research suggests that direct monetary assistance contributes to greater positive outcomes including reduced poverty and increased school attendance. While many organizations are moving away from the service-based model, they struggle with how to effectively provide direct monetary assistance to the individuals they serve in an increasingly cashless world. Setting up and navigating debit card infrastructure is typically a year-long process for non-profits who do it themselves. In addition to being time-consuming and expensive, it distracts the organization from its core mission.

GiveCard offers debit cards for distribution to any organization that directly interacts with and provides services to low-income and vulnerable individuals. Their vision is to serve these communities by offering a direct cash transfer program within a day. That way, more governments can adopt programs such as guaranteed income and allow individuals to progress towards independence and permanent housing. In addition, more low-income and vulnerable individuals can develop trust in digital cash options, ending their reliance on predatory lending systems.

“Highnote is the innovator we’ve been looking for, Their developer-friendly APIs represent a departure from legacy providers which often have bulky, complex processes and lack the ability to customize and scale at the velocity GiveCard’s customers need. With Highnote as a partner, we are well-positioned to execute on our vision and enable all non-profit and government programs to implement direct cash transfer programs effectively.”

-Lurein Perera, GiveCard’s founder.

Highnote’s advanced issuer-processor Application Programming Interfaces (APIs) allow GiveCard to collect top-level aggregated transaction data (such as spend category) that helps inform policy conversations to better serve experimental pilot programs such as guaranteed income or direct cash transfers. Currently, the only way to understand spending habits after cash or check disbursements are made, is through time-consuming surveys that track a very small subset of participants, thus resulting in low government adoption.

“This partnership ushers in a new wave of direct giving in a world that has become increasingly cashless, We believe financial technology can unleash tremendous power to create a greater good for our society. We’ve built Highnote to be an all-in-one card issuer-processer and program manager so innovative enterprises like GiveCard can execute on their mission and make the world a better place.“

-John Macllwaine, Co-Founder and CEO at Highnote.

GiveCard Mastercard Prepaid Card is issued by Sutton Bank, member FDIC, pursuant to a license by Mastercard International. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

About GiveCard:
GiveCard is a nonprofit organization providing specialized debit cards, digital donation systems, and makes financial planning accessible and easier to use by people experiencing homelessness. Givecard recently launched a platform that makes card issuing accessible to nonprofits and governments seeking to give money directly to vulnerable populations, allowing companies to order, fund and reload cards through a simple dashboard, set spending restrictions if needed, and gain insights from transaction data.

About Highnote:
Highnote is the world’s most modern card issuer-processor and program manager, purpose-built to realize customer loyalty and engagement through embedded card experiences. Its fully integrated tech stack provides every service needed for innovative companies to launch new ways to use card payments. Utilizing the developer-friendly Highnote platform, product and engineering teams at digital enterprises of all sizes can easily and efficiently embed virtual and physical payment cards (commercial and consumer prepaid, debit, credit, and charge), ledger, and wallet capabilities into their existing products, creating compelling value for users while growing revenue and building a unique and differentiated brand. The company has raised more than $100 million from leading investors and strategic partners and is headquartered in San Francisco, California.

Spotlight

Every generation has unique giving preferences. Many nonprofits are find greater success with multi-channel marketing: employing varlet,. methods (like traditional mail, social media, email, a. more) to reach a broad audience.


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FUNDRAISING, NONPROFIT TECHNOLOGY

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NONPROFIT TECHNOLOGY

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