Founded by a team with decades of experience in the tech industry, Wonderful is changing what it means to send and receive money.
Whether it’s paying for a new pair of trainers, or donating £10 to charity, new developments in Fintech are making the usual online payment experience look clunky, insecure and expensive for the recipient. We provide a wonderful alternative.
The wonderful journey started in 2016 with the Wonderful.org fundraising platform. The service was launched in response to mounting pressure over giving sites that earn a commission on donations. Back then, and to this day, it was clear that charity donors were completely unaware of the fact that the fundraising platform was pinching a slice of their generosity. Even now, fees on donations can be as high as 8% and some giving platforms still operate for-profit.
The team behind Wonderful saw a better world, where donation processing fees were covered by corporate sponsors, and every penny of every donation was passed directly to the charity. Since its launch, Wonderful.org has provided a 100% fee-free online fundraising service for UK registered charities in partnership with conscious businesses like The Co-Operative bank, who have a joint desire to ensure fundraising! In that time, Wonderful has refined its core payments service to oer direct donations on charity websites, QR code donations and much more, all at zero cost (subject to fair usage).
Today, businesses of all sizes are subject to hefty percentage fees by payment service providers. Traditional card payments are frustrating for shoppers, and less secure than new technology allows. As well as providing direct online payments and fundraising services for charities, Wonderful will soon launch a commercial, Open Banking powered payments services for UK businesses that helps them improve conversions and save money on transaction fees.
Financial technology is an exciting place to be. For some time, the UK Government has been looking for ways to boost competition in the industry and ultimately improve financial services and the financial health of consumers and businesses. Wonderful utilises a new, government-backed financial technology known as Open Banking to drastically improve the digital payment process.
In short, paying with Wonderful is a breath of fresh air. There’s no fiddling for your debit card, entering long card numbers of CVV codes. Instead, every payment is made directly to the recipient’s bank account, with no need to enter account numbers or sort codes. The whole process is authorised by the payer’s mobile banking app (or online banking service) and the result is a simple, fast, secure payment service that costs far less than we've become used to. That’s a wonderful payment.
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