Believe.in Chooses Stripe to Support a Free Charity Donation Model
Believe.in, a U.K. company that provides technology for accepting donations online, has a no-fee structure that allows charities to receive donations using technology from Stripe.
Believe.in, which launched in November, will offer Stripe's processing technology to charities for free, while charging for add-on enterprise software. Stripe charges Believe.in and other clients a 30-cent base fee plus 2.9% of the transaction size for each successful payment.
For Stripe, which provides technology for other companies to add payments to their own applications, the Believe.in partnership continues its expansion into the U.K. and its support of charity networks, says Diede can Lamoen, head of international expansion at Stripe.
"Supporting the work that charities do has been an important part of our mission," Lamoen says. "As we continue or expansion in the U.K., our partnership with Believe.in is an exciting example of the ways we can help charities and businesses simplify payment processing."
Stripe has relationships with U.S.-based non-profits such as Reddit Donate, the Innocence Project and the Electronic Frontier Foundation.
Before signing on with Stripe, Believe.in worked with PayPal and directed users to PayPal's site. Though PayPal charges a 2.2% transaction fee, plus 30 cents, to nonprofits, Believe.in found advantages in working with a smaller payment provider.
Smaller payment companies are more nimble, says Matthias Metternich, CEO of Believe.in.
"Of course the functional element that is payments, accepting donations easily and having meaningful transaction data piped in alongside contextual information, is a prerequisite for success and needs to be perfect," Metternich says. "We're getting close with our approach and platform and now closer with our blending Believe.in and Stripe intelligently."
With the Stripe relationship, Believe.in can accept donations without directing users to another company's website.
Newer payment processors such as Stripe have been seeing increased business lately as startups see the benefits of working with these agile competitors.
Braintree Inc., a mobile payment vendor founded in 2007, has also seen increased investment and business, plus the company has lured talent from technology companies such as Google, Yahoo and Square. Braintree recently hired Rob von Behrern, a former Square engineer, as the lead engineer of Braintree's San Francisco office.
One of Believe.in's products, for which it charges a fee, is a cloud-based system for using social media. This social aspect is also transforming the way charities operate and handle payments online.
"Regular storytelling is part of the currency that needs to be exchanged," Metternich says.