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One Rounding Transaction
PowerPennies® Checking will allow you to enjoy yourself knowing that a check you write for $179.54 will create 46 extra pennies going to your personal cause.
In a typical month, the average customer writes 15 to 20 checks. Fifty to sixty percent of the checks will have pennies. Therefore, the PowerPennies® Checking invention will Rounder 9-11 checks and send $4.50 to $5.50 per month to the nonprofit you select. See an average monthly PowerPennies® Check Statement.
Impact of Mere Pennies
It is important to note here, that with the advent of the PowerPennies® Checking & Debit Card, potentially millions of US. consumers can
“feel the caring power of giving” every time they write a check or use a debit card. As result, thousands of nonprofits will receive needed funds and banks will be offering a win-win, consumer sensitive, and high road marketing invention -- at no cost to the bank.
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Customer Motivation
In response to the logical question, “Why would customers add the system to their checking account?”
The answer lies in the fact that Americans are the most charitable people on earth. Each year 70% of us make donations to charitable organizations.
In light of our propensity to be charitable, it is expected that a significant percentage of consumers would select the convenience and opportunity provided by the PowerPennies® Checking invention to effortlessly send pennies to their favorite nonprofits -- health organizations, children’s groups, PTA’s, alumni associations, churches, synagogues, volunteer fire/rescue squad departments, and other local/national/international nonprofits.
Benefits for Passionate Customers
The system provides individuals with:
- The ability to marshal their pennies together and be assured that the money will get to their favorite nonprofit(s).
- The opportunity to enjoy their spending even more, knowing that they are also taking care of those less fortunate.
- The option of auditing their contributions on the Internet, while receiving community news and information from their selected nonprofit(s).
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Benefits for Banks
As to the question, “Why should banks license PowerPennies® Checking & Debit Card and offer the system to their customers?”
The answers are:
- Patented Customer Acquisition & Retention Tool -
With banks across the country looking to grow their retail business, PowerPennies® Checking offers proactive banks the opportunity to attract and maintain passionate customers.
- Every Checking Account Can Become A PowerPennies® Checking Account - Once licensed, banks will have the proprietary right to empower every existing and new checking account customer with a direct connection to their personal causes. All of the power and passion involved in the PowerPennies® system can be harnessed and distributed, without the need for a bank to physically co-brand a new checking account or sharing in the revenue produced by the account with an affinity group.
- Why
Not Do It?- Other than the initial licensing cost and
a one time software set up cost, issuers who license the PowerPennies®
system do not have any ongoing cost. Why?
Because the cardholder makes the cash contribution, not
the bank. There are no royalty fees to be paid to EPC,
as EPC receives a fundraising fee from the nonprofit
organizations.
- Turn Key Marketing & Operation - As part of its services to licensees, EPC will enroll thousands of nonprofits and millions of supporters in PowerPennies® Checking. As repeated studies have demonstrated, US. consumers are very charitable and after price and quality, a vendor's social practices often determine if a customer will stay or switch services. For example, 66% of shoppers would switch brands and 62% would switch to retailers who offer programs that will support their social causes. (Cone/Roper study)
- Public Relations - The system also has the power to soften the often-held public opinion that the “bank industry” only cares about collecting checking account and overdraft fees. When a banks offer the PowerPennies® Checking program, they will be sponsoring pure, passionate giving, as well as having the opportunity to earn substantial incremental revenue from attracting new customers from other banks who will not be licensed to offer PowerPennies® Checking.
- License Additional EPC Products - Licensees of PowerPennies® Checking will also have the opportunity to license additional EPC products.
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