What if you could support the charities you care about everyday without any constraints or sacrifices? Introducing Choice, who are providing an innovative contactless payment solution that enables you to allocate a percentage of the normal transaction fee to a charity of your choice. With blockchain technology, big hearts and big partnerships they’re fundamentally changing the way we pay.

First appeared on NZfintech

So, tell us, what is Choice working on?

Choice is empowering people to make a difference every time they pay. We aim to reduce transaction fees for merchants and enable consumers to allocate a percentage of their transaction fee to a charity of their choice. Using blockchain technology we are creating a trust-based, transparent value transfer for New Zealanders.

New Zealand once lead the payments revolution with the mass adoption of EFTPOS in 1984. Utilising New Zealand as a global incubator, Choice is excited to bring a globally scalable impactful payments solution to life.

The team recently secured $1m NZD in non-equity funding from the NEM.io Foundation. This global blockchain powerhouse has recognised the merit that Choice is bringing to the table and through a successful community fund proposal they are adding significant fuel to the fire. A choice to pay is now a choice to make a difference.

Why is it important?

We have the highest rate of youth suicide in the developed world.
80% of our native birds are threatened with extinction
And 27% of New Zealand kids are living beneath the income poverty line.

Yet on the other hand, $62 billion of Electronic Card Transactions were processed in New Zealand in 2017. Taking a cut of 2–4% per transaction, multinationals such as Visa (New Zealand) and Mastercard (New Zealand) declare profits and tax of less than $200,00 NZD year-on-year.

Currently, 95% of businesses in New Zealand are small businesses. Transaction fees that utilise the Credit Card rails have a fixed cost which directly affects a merchant’s bottom line. Yes, that means that every time you pay with your trendy Tap and Go, Paywave, Apple Pay or any in-store or online transaction with your debit card, this charges merchants directly a 2–4% fee for the convenience. There is currently no other alternative and these fees are going straight offshore. Contactless payments have increased 20% in the past 12 months and this trend is only continuing.

Choice aims to provide an innovative contactless payment solution linked to your bank account and through utilising QR codes you will now be able to transact with the swipe of your camera. You have the choice to make a difference every time you pay.

What are you looking forward to during KFA?

The Choice team is excited to surround ourselves in the “Digital Switzerland” of the southern hemisphere as part of the 2018 KFA cohort. Our proximity to regulators and small business in the bustling Wellington CBD is a major part of maintaining the momentum of Choice. The awesome team at Creative HQ have continually provided above and beyond support for our mission. We love Kiwibank’s motto of “Kiwis helping Kiwis” and we believe we can deliver a tangible solution that can enable every New Zealander to help another New Zealander every day.

What are you aiming for?

Not to beat around the bush, but Choice wants to oust electronic card transaction providers who operate without purpose from New Zealand and beyond. We will start by providing value to Kiwis for Kiwis, every time they pay.

Thinking BIG but acting small, the Choice team is looking to roll out in consciously consuming cafés one cup of coffee at a time. So next time you are tapping and going – take a second to imagine the difference you could make by paying with Choice.

Choice is giving everybody the opportunity to do things differently and create change. Every small act can make a difference, and many small acts could change the world. Follow their journey, and start yours with them, on Twitter and Medium.

Every little helps. Are you ready to take action?

Good on you! Head to Choice to find out how every time you spend you could make an impact.