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Wearable paytech programme sought special collaboration for charitable giving initiative
We have extended financial inclusion
activities by enabling fee-free donation through McLEAR.
About McLEAR
McLEAR, in Strategic Alliance with VISA Inc, is a leading wearable technology company for payments, security, and fashion globally.
Challenge
McLEAR wanted to ensure that there was a technical solution in place so 100% of the amount donated would be received by the nominated charity. Finding a way around incurring a transaction fee from the processor would be an important challenge to overcome.
Solution
In a collaborative effort, the GPS and McLEAR teams assessed how this process could work financially, technically and administratively. "GPS immediately saw the social value of what McLEAR and Parsnip were launching and agreed that it was not fair to either the charity or the consumer if fees were levied on donations to good causes", said Blondell.
“GPS plays a very important role in supporting payment programmes that are financially inclusive and socially responsible”
Daniel Blondell, Cheif Operating Officer, McLEAR
McLEAR is the pioneer of wearable payment technology for consumers and businesses.
Since 2018, their Smart Ring has enabled over 100,000 Ringholders to make contactless payments globally with a simple tap of
a hand.