New payments start-up can save charities billions of pounds

Banked, the account payments platform start-up, is hoping to save charities around the world billions of pounds worth of donations currently lost on payment processing fees. 

The new system, created by the London-based fintech firm, was officially launched earlier this month and charges just 0.1% payment processing fees, compared to the standard 2.9% typically charged by charity platforms due to the fees incurred by the card networks and associated payment processors.

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