CHICAGO--(BUSINESS WIRE)--mPayy (www.mpayy.com), the secure online and mobile debit payment network, announced today it is the exclusive payment processor for newly launched Philanthroper (www.philanthroper.com).
Philanthroper is a daily deal site that allows concerned individuals to donate $1 to vetted nonprofits with the push of a button. The site showcases a new nonprofit “deal” every day, spanning across six categories: arts, education, animals, environment, human rights, and health. Philanthroper is advertiser supported, and does not take any cut from user donations.
“I wanted to modernize the world of donation to appeal to today’s internet culture,” said Mark Wilson, founder of Philanthroper. “Philanthroper is all about simplicity. With one button you donate one dollar, and all but one cent goes directly to a great cause.”
As the exclusive payment processor for Philanthroper, mPayy offers a secure transaction for users with only a one percent transaction fee for every dollar donation
“Before today, most charitable organizations couldn’t dream of accepting $1 donations due to ridiculous transaction costs,” said Wilson. “I mean as much as 35 cents on the dollar. It’s absurd.”
“Through our partnership with mPayy, we’ve been able to undercut the inflated, often invisible transactional fees plaguing the nonprofit industry. The result is that nonprofits can finally harness the massive power of micro transactions. And by giving a dollar at a time, donors can spread the wealth to a variety of causes far more often—supporting everything from small town after school arts programs to international vaccination campaigns.”
As the exclusive payment processor for Philanthroper, mPayy allows users the ability to securely and conveniently create a link to their own bank account. Personal information including four unique security questions is collected and sent with Triple DES encryption. The user’s bank information is run against mPayy’s massive database for verification, and if confirmed the user can begin donating immediately. From then on, users can make future daily donations with one click.
“We are very pleased to support Philanthroper’s charitable mission with our industry-leading payment processing solution,” noted Conrad Sheehan, CEO of mPayy. “mPayy’s seamless integrated checkout operates at half the cost of credit card-based solutions. Processing costs for other merchant providers typically range from 5-8%, and often include minimum amounts, making a dollar donation impossible. Our service enables secure movement of funds from Philanthroper users’ bank accounts directly into the accounts of their selected nonprofit organization. All of this is done with only a penny charge per transaction.”
Philanthroper was founded by Mark Wilson through his company Panoramic Media, Inc. Mr. Wilson’s background is in tech-based journalism with sites including Gizmodo, Popular Mechanics and Esquire. Through his reporting work and exposure to all facets of new media, Mr. Wilson developed a desire to help nonprofits leverage the fundraising power of social networks.
“You simply can’t appeal to the average Twitter user to donate $25 on a whim,” said Wilson. “And just ‘liking’ a charity on Facebook doesn’t exactly pay the bills.”
For more information about Philanthroper, please visit www.philanthroper.com.
For information about mPayy’s low-cost mobile and web payment processing solutions, visit www.mpayy.com.
About mPayy:
mPayy, Inc. is a multi-channel, electronic, alternative payment company headquartered in Chicago, Illinois. Founded in June 2007 by independent and institutional investors, mPayy provides a highly secure, easy-to-use, flexible and efficient alternative payment solution. mPayy was created specifically to meet the unique payment needs of internet and mobile commerce. Its features and functions address key areas of frustration and concern for buyers and sellers alike. Buyers experience a faster, more secure checkout process with fewer screens and data requirements. Buyers also benefit from free person-to-person money transfers and cash-back rewards. Sellers eliminate fraud, reduce shopping cart abandonment, decrease processing expenses by a minimum of 50%, and meet PCI requirements. For more information, visit www.mpayy.com.