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Conditional Credit Card giving | |||||||||||||||||
How about the CC companies create a standard "conditional giving" payment slip. Purpose - to enable organisations, esp local ones, to go door to door saying "we want to raise $30,000 for the local sports ground, can you help. Complete a CG and we'll only cash it in if we get the full $30,000". Simple and powerful.
iandickson, Oct 10 2003
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I like it. Simple, and easy to execute for nonprofits.
Potential charges can be held in an escrow account, just like Angel/VC investor money is prior to the final execution of investment docs.
I'm not too clear about what you're implying. Are you saying that person who is raising money fill out a paper form with the credit card information? Then hold it until the target amount they needed to raise was hit? I'm actually in the business of supporting NPO's with a special payment system my company has created, so I'd like to understand what you're saying.
I've got a model for turbo-charging your idea. See www.DualCurrency.com Feedback and help welcome. joel
There's something kind of like this at Fundable. They let people contribute towards a goal, and if the goal isn't reached, they refund the money.
It's called an "assurance contract".