“There’s an app for that!” Common words that chances are, we’ve either said or heard used by someone else. Well, here it is once again, because now there’s an app for users to give back to their favorite charities with purchases they make every day.
The way Mylo works is simple. Users download the app, connect it to their bank account, and spend as they usually would. Every time a purchase is made, Mylo rounds up to the nearest dollar and invests the spare change or, with Round Up to Give, saves the spare change and donates it to charity.
In a recent interview with Mylo founder, Philip Barrar, we were able to talk about their new partnership with CanadaHelps, and the work that they are doing to help raise awareness and funds for charities all across the country.
“I founded Mylo with the mission to help Canadians achieve their financial goals. For many Canadians, donating to charity is an important goal. We had already created the technology that automatically puts aside digital spare change, so a partnership with CanadaHelps, Canada’s largest online donation and fundraising platform, made perfect sense. Thanks to our partnership, Mylo users can Round Up to Give to any of 86,000 registered Canadian charities,” shares Barrar.
Why was it important for your company to be involved in this initiative?
“We were already making it easy and affordable to invest, and we felt that it was essential to make donating easy and affordable, too. Fewer Canadians are giving to charity, but the popularity of online giving is growing. We’re excited to help Canadians make a big difference with their small change.
Millennials make up the majority of our user base, and 57% of millennials say they would donate via mobile. With Round Up to Give, our users can make recurring microdonations to any cause that matters to them without feeling the difference in their bank account. It’s an effortless and utterly mobile way to give back. We also think millennials will appreciate how they can use our referral program to raise money for the causes they love. Any Mylo user who successfully refers a friend to Round-Up to Give will earn $5 to donate, and their friend will earn $5, too.”
Marina Glogovac, President and CEO of CanadaHelps, believes that this collaboration will change the landscape of fundraising and philanthropy in a big way.
“I think that Round-Up to Give is an essential sign of things to come. It captures several trends that will become dominant in how philanthropy is done – technology-driven, mobile, secure user experiences, and peer-to-peer inspired. Eventually, and in not so distant a future, the preference of younger generations for interacting with apps — and their expectation for excellent, personalized service regardless of what way they choose to interact with charity (e.g., mobile, desktop, phone, an event, in-store) — will change giving profoundly.”
For more information on how you can be part of this initiative, download the app or check out the website.