Charity rounding up refers to the process of raising money for
charity by using retail transactions at either a
retail store's point of sale
The point of sale (POS) or point of purchase (POP) is the time and place at which a retail transaction is completed. At the point of sale, the merchant calculates the amount owed by the customer, indicates that amount, may prepare an invoice f ...
(POS) terminal or via an
online website. Whenever a purchase is made using either a
debit or
credit card, the transaction is rounded up to the next decimal.
This original proof of concept was developed in 1999 when Wiremite Inc., a
digital wallet company, was expanding the services available for a new terminal being introduced in retail outlets as well as online purchases. The charitable component was made possible due to the almost cost-free nature of the transaction and the bundling of the services available on a terminal.
See also
*
Cash rounding
References
{{Reflist
External links
Carnegie Medal of PhilanthropyNSCU Academic Paper
Charity fundraising