Consumers will now be able to support Australia’s struggling arts sector just by going to the shops or shopping online, with the launch of new tech startup ArtsPay.
According to the ABS, the COVID pandemic has hit Australia’s arts and recreation sectors harder than any other, with estimates suggesting more than $500 million in lost revenue.
Now, businesses can join ArtsPay and the fees they currently pay to the banks or financial institutions in Silicon Valley will instead go to support Australia’s arts sector.
ArtsPay is a payment processing company that uses the fees from every transaction at a partner organisation to support the arts.
In partnership with global payments giant Fiserv and local payment gateway Fat Zebra, ArtsPay offers sophisticated payment solutions in person and in store, and the opportunity for businesses to achieve a social good.
This means that every time a customer shops at an ArtsPay organisation, they will be helping to support Australia’s artists and small arts organisations - at no additional cost to the business or their customers.
Already, many well-known Australian brands and local stores have joined ArtsPay, including fashion labels Alpha60 and Bul, jewellery stores Lucy Folk and Pieces of Eight, Sydney Contemporary art fair and local Melbourne wine store Rathdowne Cellars.
At least 50 per cent of the profits generated from ArtsPay fees will then be distributed back to the arts ecosystem through a new funding body, the ArtsPay Foundation, which will launch next year.
ArtsPay has received an industry collaboration grant through the Australia Council to consult with the arts community on the Foundation’s grant making structures and to grow the business so it can have a long term impact.
ArtsPay was founded by three friends, Marc Goldenfein, Lara Thoms and Alistair Webster, committed to finding new and innovative ways of tackling the funding shortages that have plagued the arts for decades.
For more information on artspay visit www.artspay.com