Strong together: secupay crowdfunding services for 99funken.de
Customer
GSD Gesellschaft für Sparkassendienstleistungen mbH
Cooperation
secupay handles the secure, efficient and user-friendly processing of all payments for the crowdfunding portal of the east-German savings banks 99funken.de.
The challenge
"Achieving more together" is the crowdfunding motto. But handling numerous deposit amounts, which are often small or tiny, is a complex task. Initiators want to put financing projects into motion quickly, easily and cost-effectively. They must be identified in accordance with the provisions of the Money Laundering Act (Geldwäschegesetz). Donors want secure but convenient payment options. In addition, all parties involved must be able to rely on deposited funds reaching the correct recipient or, in the event of unsuccessful fundraising, being returned to the payer. To operate the crowdfunding platform 99funken.com GSD therefore needed an efficient, insolvency-proof and legally compliant solution for payment processing.
The solution and cooperation
As a BaFin-certified payment service provider, secupay holds the deposited funds for each crowdfunding project in German escrow accounts in an insolvency-proof manner until the specified funding threshold is reached. When the payment is ready, secupay ensures that the collected amount is paid to the project and other stakeholders and automatically settles fees and commissions. Should the required minimum sum for a project not be collected, secupay assumes the correct reprocessing of funding amounts to the donors. The strengths of the solution: Thanks to fully web-based onboarding with a simplified identification process, new projects, such as spontaneous relief operations, can be launched very quickly. Those who wish to give money can choose between various payment methods, including payments directly from a current account by direct debit or with Giropay. Automated processes guarantee fast and cost-effective processing of all payment transactions. All this ensures high acceptance of the platform and many successful projects on 99funken.com.
„As a service provider for the east-German savings banks, we attach great importance to efficient solutions, transparent processes and high customer satisfaction. This was one of the reasons why we and secupay immediately "hit it off". secupay's many years of experience in the crowdfunding sector was an important selection criterion for us." Marek Meyer, Authorized Representative/Business Unit Manager Market Service, GSD
Website: 99funken.de
About GSD Gesellschaft für Sparkassendienstleistungen mbH
The crowdfunding platform 99funken.de is an initiative of regional Saxon Sparkasse savings banks and GSD Gesellschaft für Sparkassendienstleistungen mbH. Private individuals, associations or institutions can finance ideas for regional projects or products online or make donations toward them. Since the platform’s launch, donors have thus successfully supported around 870 projects with a total of 6.8 million euros.
