When these wishers are in our system, they create a story for whatever their
need is. Johnny broke his arm, or you know, hey we need
food for the family, or hey we need ride back and forth to work.
Whatever that cause or crisis is, they can instantly go to that shopping
portal which has every major retailer United States in their Walgreens, Walmart, Amazon,
you know all the ones. They can instantly go in there spending those
funds same day, and you can get full reconciliation as a donor, so
you always understand the impact that your transaction made, the impact that your dollar's
made. And I think that's really the connection that's missing inside of the charitable
giving spaces. When you give, you actually really never know what happens to
the money. You are listening to Carrie Letz's Financial Survival Network, where you
get valuable information you just can't find anywhere else to thrive in today's trying times.
You need the Financial Survival Network now more than ever. Go to Financial
Survivalnetwork dot com and get your free newsletter and gift. Financial Survival Network work
now more than ever, and welcome. This is Financial Survival Network and I'm
your host, Carrie Lutz. Well got interesting guests on today. I think
you really appreciate what he's doing and really opening up the world of charitable giving.
Name is Chase Armor, and Chase great to have you on the show.
So man, thank thanks for having I guess your background we should talk
about because it's directly connected to what you're doing now. So you created,
I guess, a platform, a network processing transactions. You process, you
know, billions and billions. You sold out, I think it was called
pay Certify. Was your old company, sold out from five billion? And
now now you're trying to make the world a better place. Great, trying
to make up a little better place. That's what it's all about, leaving
a legacy behind you, you know. So how are you doing that?
Explain to most donor network effect somebody it's under network, right, Yeah,
Well, I mean I think it's both sides. So I approached it from
the donor side because I was giving, and I never understood the impact of
any money that I was ever donating to any charity, any cause, any
crisis. And I was really kind of sick of every grocery store asking me
for money when I checked out at their pos and never understanding where those dollars
were going. So I really just wanted transparency what was going to impact,
what was going to addmin to always understand what that my dollars were always going
to something that mattered, you know, not some desks or an office building
somewhere. And so that's really what I was trying to solve. And how
we did that is we created an ecosystem which kind of tipped to tail like
donations in all the way to the how those were being spent. And we
essentially turned donations into virtual credit cards. So everyone's familiar with using credit cards
and even on their digital wallet. The great thing about using a credit card
you always understand the money. At the end of the day, when you
go to the grocery store and spend twenty bucks, you could see it instantly
onside of your reporting portal on your credit card. So that's the think about
creating ledgers is we're able to transparently show the dollars and dollars out. So
when people donate to a cause, crisis or a category specific need like growth
frees, hotel, ride share, whatever, maybe have you, what happens
is those dollars come into our platform through a five o' one C three public
charity. So you instantly get that tax deductible a receipt, which you can't
get anywhere on any other crowdfunding platform in the market, because if you try
to use platform like GoFundMe or any other platform, they're four prop companies and
so they're not able to give you tax deduction on an individual donation or a
charitable donation through their platform. So through our platform you get the tax deductible
receipt. We turn that into a credit card, which is digital, and
it's sent directly to that cause, crisis or charity. And then because where
the card issue or with a master card, we actually can see where those
donations are spent, how they are being spent, and we can admit it
immediately give access to those funds instead of our shopping portal. So if you
think about like Apple, the Apple store, like the Apple store inside of
the App store, like on your phone, it's basically like that, except
with every major retailer in the United States. So when these wishers are in
our system, they create a story for whatever their need is. Johnny broke
his arm, or you know, hey we need food for the family,
or hey we need right back and forth to work whatever that cause our crisis
is. They can instantly go to that shopping portal which has every major retailer
the United States in their Walgreens, Walmart, Amazon, you know, all
all the ones. They can instantly go in there and spend those funds,
you know, same day, and you can get full reconciliation as a donor,
So you always understand the impact that your transaction made, the impact that
your dollar's made. And I think that's really the connection that's missing inside of
the charitable giving space is when you give, you actually really never know what
happens to the money. Yeah, you know that's mean giving, right,
It's like the connection's gone, you know, like why do you give?
What do you give? If, like you help, you have this emotional
connection to a causer crisis, but if you never know what happens afterwards,
Like you know, where's the connection? You know? Yeah, It's like
you send all this money to the Red Cross, you know, because there's
been a calamity, a Hurricane Katrina or a Hurricane Andrew, and they're getting
tons of money from the government, and then you never know where your money
went. And then you find out later, oh they had it just went
into the general funds and they just pay stuff out of it, and we
don't field how to betrayed on that right you feel like and then take it,
Well, that's the reality is that you know, when there's a causer
crisis, those are major raising dollar opportunities, but those dollars don't actually go
towards that aid. You know, it goes into a general fund because a
funds and already there to be deployed. So if you wanted to help someone
in crisis or in and actually know that you help that person, there is
no way to do that today outside of what we created because and there's no
way for charities to actually show you what your dollars went towards, right,
because it all goes into like a big fund, right, so your dollars
are never right exactly huge buck and it's impossible to reconcile your twenty dollars or
your thousand dollars or your five hundred dollars what would it actually went to?
Right, And so I think we were solving that problem for donors so they
can always feel good about their transactions. But then always understand that, you
know, if you're trying to make a difference for one specific thing or you
know, one cause or crisis, and you know you could actually make that
difference and actually feel great about what you did. Yeah, I mean that's
like I love it because I always feel like, you know, why send
to the Red Cross, Because like you said, where's that money going?
It's like it's probably it's going to have no relation to why you think you're
giving it, you know, So that's actually true. And you know it's
not like they're a bad organization. You know, they're they're a very very
large organization, you know, but there's really trees truly no way for there's
no tools out there or or platform that can actually help enable this type of
insight. And I think that's really what we're bringing into the market is to
help those organizations not only raise money transparently, but actually give impact, give
impact reporting back to those donors. And I think it helps them raise funds
because you know, it helps them raise fund number one, but it also
gives donors one singular platform where they can donate anywhere. It always get that
tax deductability even if those even if those charities or causes or crisis don't have
the ability to provide that tax ability reporting back you can have you can house
all your tax deductibility reports all in one portal. And it also works almost
like a donors advised funds. So if you think about how a donor advised
fund works too, if you put money into a donor advised fund, you
really never know where those dollars goes, how those impact is going. But
you also get the advantage of a donort device fund is you give that tax
deduction right away, right no matter even if you decide to allocate those dollars
six months or eight months down the line. In our platform, you can
actually put that those dollars to work at that tax deductability immediately, and then
when a crisis happens, you can immediately deploy that capital to that crisis or
impact, so you can get that tax deduction right away. You could sit
there on the balance cheat up your thing, and then you can actually direct
those funds later. So it works like that as well, So very cool.
Like I think it's going to give smaller charity as an opportunity where you
do get that immediate response where there are actually in the trenches. It'll enable
them to raise money that they would never otherwise be able to well, sure,
and if you think about if you're a new nonprofit, it's almost impossible
to raise dollars as a new nonprofit without any track record history, right.
So this allows new nonprofit with a great mission behind them to actually raise more
dollars more effectively because donors always understand where those dollars are going, so they
could give a nonprofit a change. If you think about it as a nonprofit,
if you're getting dollars from anyone and then you cope back to you're going
back to them later to say, hey, we need more money, right,
how how does it it doesn't help you to not be able to show
where those dollars went before. You know, it really gives you a lot
of leverage when you can say, hey, look at what we did with
your money last time. We'd love for you to participate this time. It's
important. It really makes it easier for them to raise more dollars. But
donors to really always have that confidence that that trust is there. Kind of
a fund of funds approach here, but you're actually controlling where the funds go
once you put them in. They had to come up with this concept,
you know, I came from that I've been in fintech for you know,
as long as I've been young adults since ninety eating them forty four now,
and so I kind of built been on both sides of the equation in the
payment system. And you know, I was one of the pioneers and site
of the virtual credit card space that became obsessed with the whole economy of the
transaction. If you think about how it works in business, every purchase,
what was a sale before that, right, So there's wholesalers, there are
suppliers, There's a whole economy chain in a transaction that happens when a consumer
bisor product. There's suppliers that need to get paid. There's there's product that
needs to get bought. There's like four different there's four different people involved in
that transaction on the back end that make that product purchase a reality. And
I think I became obsessed with that, and then I said, I can
beak the whole economy for a donation transaction and solve the problem the biggest problem
that exists inside of the charitable giving space, which is nobody understands where the
money goes, and it's a black box. You know, we can open
up that black box and show that transparency, and there's a way to do
it, and it just took financial and a fintech innovation to make that happen.
And so we basically broke the held system of how money used to flow
and we created and do use system that's completely on credit card rails and bake
rails that make allow that allows us to kind of build this infrastructure that creates
transparency but doesn't doesn't change consumer behavior. So we're all used to basically making
purchases and acquisitions this way, so we're not changing user behavior. We're just
changing the infrastructure that processes those transactions and makes those transactions transparent. All right,
anyway, fascinating, So where do we find you? How do we
connect to with to go on the limp? Yeah, you can get us
at wishes dot eg. If you go to wishes dot im and see you
can get on the waiting list or we are we are super close to launch.
We've been building this for about a year and a half and uh yeah,
I mean super super excited about the product, super excited about where this
is going to be changing charitable giving. And if you want to find me
directly, you can get me a Chase at Chase Armer on LinkedIn. I'm
always available to answer questions or look up for link for LinkedIn for so search
partnerships as well. So all right, really exciting. Wish you the best
on this and I'm going to check it out myself. Got a question for
Chase myself, shoot me an email k l acrylots dot com and the link
to this site is in the show notes this interview on Financial Survival Network dot
com. While you're there, sign up for your free newsletter, Chase.
Wish you the best and we'll be following your progress. Thanks Sar, thanks
for listening to Carrie Letz's Financial Survival Network, your solution to today's trying times.
For the latest, go to Financial Survivalnetwork dot com. Financial Survival Network
now more than ever