The Donation-Payment Card Concept: How to Give Twice with One Card

7 Pages Posted: 17 Oct 2005

See all articles by Riley Crane

Riley Crane

University of California, Los Angeles (UCLA)

Juan V. Escobar-Sotomayor

University of California, Los Angeles (UCLA) - Department of Physics and Astronomy

Didier Sornette

Risks-X, Southern University of Science and Technology (SUSTech); Swiss Finance Institute; ETH Zürich - Department of Management, Technology, and Economics (D-MTEC); Tokyo Institute of Technology

Date Written: October 8, 2005

Abstract

Currently, there are large amounts of unused funds associated with Prepaid Stored Value cards. These funds are being claimed by either the companies that issue the cards, or State Governments. This has given rise to many complicated legal issues whose outcome does not remove the basic fact that the consumer has no power of decision over the final destination of these funds. We propose a Donation-Payment card that automatically donates all unused funds to the consumer's preferred charity, which reinstates their choice and resonates with the innate altruistic human desire. The partnership with charities should increase significantly the number of people who use this Prepaid Stored Value card, ensuring its development as the fastest growing new payment instrument to arrive since the introduction of debit cards.

Keywords: Gift card, charity, charities, stored-value, prepaid, altruism

JEL Classification: L32, L81, Z13

Suggested Citation

Crane, Riley and Escobar-Sotomayor, Juan V. and Sornette, Didier, The Donation-Payment Card Concept: How to Give Twice with One Card (October 8, 2005). Available at SSRN: https://ssrn.com/abstract=823564 or http://dx.doi.org/10.2139/ssrn.823564

Riley Crane (Contact Author)

University of California, Los Angeles (UCLA) ( email )

Knudsen Hall 1-129
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Juan V. Escobar-Sotomayor

University of California, Los Angeles (UCLA) - Department of Physics and Astronomy ( email )

Knudsen Hall 1-129
Los Angeles, CA 90095
United States

Didier Sornette

Risks-X, Southern University of Science and Technology (SUSTech) ( email )

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Shenzhen, Guangdong 518055
China

Swiss Finance Institute ( email )

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Tokyo Institute of Technology ( email )

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