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We have extended financial inclusion activities by enabling fee-free donation through McLEAR.
McLEAR is the pioneer of wearable payment technology for consumers and businesses. Since 2018, their Smart Ring has enabled over 100,000 Ringholders to make contactless payments globally, with a simple tap of a hand. It was looking for a solution to make sure all charitable giving payments made through the ring went to the right place.
McLEAR wanted to create a technical solution to ensure 100% of the amount donated would be received by the nominated charity. Finding a way around incurring a transaction fee from the processor would be an important challenge to overcome.
In a collaborative effort, the Thredd and McLEAR teams assessed how this process could work financially, technically and administratively. Thredd has since enabled McLEAR to become the first wearable payment technology brand to actively encourage its Ringholders to support charities, which they can do without the deduction of fees.
The charitable donation feature, RingPay Giving, was a key part of a broader enhancement to the McLEAR smart Ring; which, in partnership with Parsnip, also saw the addition of loyalty and cashback functionality. Ringholders can set rules and manage their Ring through a dedicated app, which also gives them access to numerous exclusive features and benefits.
Get in touch to discover limitless payment possibilities with Thredd.