The world is entering a huge cost of living crisis, which will inevitably result in a rise in homelessness. But donating to homeless people has yet to go fully digital.
Challenger bank Monzo allowed the opening of limited accounts for the homeless using methods like a benefits letter or one from a homeless shelter, for instance. But the solutions are patchy.
However, with many homeless people now packing smartphones, ideally there should be simple ways of supporting them rather than shrugging away an excuse about not carrying cash.
Beam says it has since raised £3.2 million from members of the public and supported more than 850 homeless people into stable jobs and homes by matching them with ethically-checked landlords and employers.
Beam currently operates across England, Wales and Scotland, and says it plans to launch internationally in the coming year.
It’s now teaming up with fintech unicorn Revolut to allow users to donate directly to homeless people through the Revolut app, making it the first U.K. homelessness organization added to the Revolut Donations feature. Revolut says its Donations scheme means 100% of the money goes straight to the chosen charity or organization.
Revolut users will now be able to donate to Beam, help homeless people raise funds for training, work tools, travel costs, childcare or rental deposits, directly through the app. Funds donated to Beam through Revolut Donations are distributed equally between Beam’s beneficiaries. The impact of the donations can be seen via the Revolut impact page.
Beam claims 100% of beneficiaries reach their target within an average of 16 days.
Commenting in a statement, Alex Stephany, founder and CEO of Beam, said: “Just as Revolut has empowered customers to make the most of their money, Beam is showing there’s a new way to support homeless people for the long-term.”
Christopher Guttridge, general manager - Lifestyle Products, added: “By enabling users to donate electronically, and pass 100% of the donation to those who need it most, we hope that the Revolut community can support the great work that Beam and its technology is doing to solve homelessness.”