EP #186: Giving through Payment Processing with Duncan Bruce
Payment processing can be a philanthropic effort.
There are trillions of dollars in payments processed every year in the world. What if a portion of these went to worthy causes? Well, a portion already does but it could be more.
Processing payments is a huge business because how else are businesses supposed to be in business?
Some organizations have specific charitable events or organizations they support but it would be even better if they could involve their customers in giving opportunities. Give Credit is a payment processing firm that gives a portion of its revenue directly to charities. Duncan Bruce is their leader with a generous mindset. Business is more than just processing payments to him. It’s a chance to give to people in need and get everyone else involved.
What You'll Learn In Today's Episode:
How Duncan donated parts of his record sales to charity
How giving was very important to Duncan early on
How Duncan found his way into payment processing
How payment processing isn’t normally a charitable space
The way payment processing works
What the customer experience is like when working with GiveCredit
Some of the processors GiveCredit works with
How Philanthropy helps Duncan’s business
How Give Credit’s non-profit fundraiser program works
How $30billion in donations could arise from the trillions in payments that are processed
How a businesses has a say in GiveCredit’s charitable donations in addition to the customer
Some examples of how technology is helping people see and feel the difference they can make
Duncan’s advice on what to do when you want to start a philanthropic movement
A story of Duncan’s conversation with a man homeless man that seeded GiveCredit
Quotes Worth Sharing:
“The giving side has always been a part of me.” - Duncan Bruce
“I had been donating portion of my record sales to charity.” - Duncan Bruce
“I need to have something that I truly believe in to get behind it.” - Duncan Bruce
“We’re like an addition to their sales force for free to them.” - Duncan Bruce
“We donate 25% of the revenue we earn of processing your business payments to the charity of your choice at no cost.” - Duncan Bruce
“It’s our revenue donated on your behalf.” - Duncan Bruce
“I wouldn’t have wanted to get into this space if their wasn’t some philanthropic side of it.” - Duncan Bruce
“We believe we actually do end up getting more business.” - Duncan Bruce speaking about how philanthropy helps his business
“Change is always tough.” - Duncan Bruce
“The challenge for me is finding sales people who are truly in it for the right reasons.” - Duncan Bruce
“I like the approach of being activists instead of salespeople.” - Duncan Bruce
“It gives non-profits a way to go out and raise money from businesses and not costing them anything.” - Duncan Bruce
“Fundraising is hard.” - Duncan Bruce
“How GiveCredit’s new non-profit fundraiser program is helping non-profits raise money.” - Duncan Bruce
“Other processors are going to have either partner with us or start giving up a portion of their revenue.” - Duncan Bruce
“Experience for your customer is the most important thing in business.” - Duncan Bruce quoting Jeff Bezos
“The most important thing is finding something that you’re passion about.” - Duncan Bruce
“There’s nothing like giving back.” - Duncan Bruce
“If you wait until the time is right…that time will never come.” - Peter Baines
“Do you feel like your customers say, ‘They’re rallying doing something good with their revenue.’” - Bob DePasquale
“That will be something that forever drive you.” - Bob DePasquale
Resources From Today's Episode:
Duncan Bruce - LinkedIn
Bob’s Book - Personal Finance in a Public World
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