Promise or Pay - It's That Simple

(3BL Media/Justmeans) - Making a promise is easy; the hard bit is keeping it. A promise was the inspiration behind Promise or Pay, a newly launched social enterprise start-up that creates a far more fun and empowering way for individuals to donate to organisations making a difference in the world. Jay Boolkin, founder, set up the platform in 2013 after realising he had not kept any of his 2013 New Year resolutions. After some research, he found that the chances of following through on promises would be enhanced if money were pledged as part of it. Research shows that the chance of achieving a goal increases 33 per cent if shared with others, and by 72 per cent if money is put down.

Boolkin found that by combining both approaches, there could be a very effective way to help people achieve their goals. But where should your money go if you failed to follow through on your commitment? Boolkin had a light-bulb moment - what if your money contributed to positive social change? This was the moment Promise or Pay was born; it has a vision to inspire millions of people to be the best they can be and, at the same time, encourage and facilitate millions of dollars in donations. Promise or Pay motivates people to do the things they most want to do with their lives, while creating a more engaging and fulfilling way to donate to charity.

Promise or Pay allows people to publicly promise to do something or pay a nominated contribution to a charity if you don’t follow through. Your commitment can be anything from giving up smoking to climbing Everest. This is the only platform that integrates both a commitment to goals and charitable giving, ensuring that a win-win outcome is always achieved and people are left feeling satisfied. It leverages off the social trend to share experiences with others electronically, speaking to a generation that has grown up in a world where social issues are impossible to ignore and are looking for a way to make a difference.

The platform is able to target a larger audience than just those people who wish to make a donation to charity. This is because the primary motivation of using the website is not to donate to charity, but to achieve a personal goal. As a result, it is able to introduce to a new and young audience, the idea of social awareness and the thought of donating to organisations.

Promise or Pay was a finalist for the Sydney Genesis Entrepreneurship Challenge Best Social or not-for-profit start-up and received an honourable mention in the category of “Social Change” at The Guardian’s Activate Tech Talent Day, The Guardian’s platform for innovators working with the Internet to change the world. Promise or Pay has huge potential, it is cool and different, appealing to our natural impulse to set have dreams, set goals, make promises and keep us accountable.

Photo Credit: Wikimedia

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