So, crowdmatching means monthly donations vary. And we don’t want to have each month’s donations be just a suggested thing that says, “There are 2,500 patrons, please now donate your $2.50” and then hope that everyone manually does it. Especially across multiple projects, this needs to be reasonably automated and smooth.
With Stripe, we could preauthorize charges so the number of patrons who fail to actually donate in the end is minimized. By authorizing us to charge them, we can rely on the pledges following through to actual donations.
So, if the amount one particular month is $2.53 to project X, how would that work in Transferwise? Can it be set up in such a way that our system can use an API that tells Transferwise to do transactions equivalent to $2.53 in whatever the local currency is for each of the patrons to project X?
There may be some strange ways to do workarounds. If you and I are giving $1 each to both projects X and Y, we could have Transferwise make you give project X $2 and I give project Y $2. But in the case of another patron who has only pledged to project X, we’d have to keep a running balance and charge in arrears later.
We won’t charge patrons via Stripe until their totals get to some amount like $3.57 or around there, because the fixed part of Stripe’s fee means way too high fees if we charged smaller amounts (so, we’ve not yet made any charges since no patron has yet hit that threshold in our alpha state). But our understanding is that Stripe can split up that charge to multiple projects without adding additional flat fees, so there’s thus no per-project minimum.
Would you be up for looking into this? It’s not an absolute blocker to supporting it, but it does make Transferwise less optimal.
If you’re able to investigate farther on the other questions too, that would be great. You’re welcome to also contact them on our behalf. Of course, I or others could too, but there’s lots to do, and I think you understand the situation as well as I do.