The world is entering a massive cost of living crisis, which will inevitably result in increased homelessness. But giving to the homeless hasn't gone fully digital yet.
Challenger Bank Monzo allowed the opening of limited accounts for the homeless using methods like a benefit letter or one from a homeless shelter, for example. But the solutions are irregular.
However, with so many homeless people now having smartphones, there should ideally be simple ways to support them rather than ignoring the excuse of not carrying cash.
Since its launch in 2017, Beam has launched a platform where homeless people can be crowdfunded. Beam says it has since raised £3,2m from members of the public and supported more than 850 homeless into stable jobs and homes by matching them with ethically controlled owners and employers.
Beam currently operates in England, Wales y Scotland, and says it plans to launch internationally next year.
He is now partnering with Fintech unicorn Revolut to allow users donate directly to the homeless through the Revolut app, making it the first UK homeless organization to be added to Revolut's donations feature. Revolut says its donation scheme means the 100% of the money goes directly to the charity or chosen organization.
Revolut users will now be able to donate to Beam, help the homeless raise funds for training, job tools, travel costs, childcare, or rental deposits, directly through the app. Beam claims that 100% of beneficiaries reach their goal in an average of 16 days.
