Chief executive Nick Aldridge says the move coincides with PayPal covering donation costs that used to be deducted from donations to charity from eBay trading
- This story has been clarified; please see final paragraph
MissionFish, the charitable arm of the online auction and shopping site eBay, has changed its name to the PayPal Giving Fund.
Nick Aldridge, chief executive of the charity in the UK, said the name change, announced this week, was part of a wider rebranding that would include a new website, due to be launched in the summer.
From Monday, the payments provider PayPal, which is owned by eBay, changed its system to enable 100 per cent of each donation made to charity through its payment system to go the cause.
"PayPal saw an opportunity to do a lot more to support charities in the UK and the US," said Aldridge. "The first way is to cover the operating costs for charities, which we used to cover ourselves by keeping a small percentage of each donation."
He said these operating costs totalled about £250,000 in the UK every year.
"Reflecting PayPal’s support and the fact that we are already working very closely and even more in the future, we are changing the name to the PayPal Giving Fund.
"PayPal is the way everyone pays and receives payment on eBay already, so it will make it a much clearer and relevant name."
The MissionFish brand is being phased out and should disappear by the summer, he said.
Aldridge said he did not know how much the rebrand cost because it was being done by PayPal’s agency in the US.
The charity, which has raised more than £40m for 7,000 UK charities since its launch in 2006, is ultimately accountable to eBay Inc, which acquired its technology in 2011.
PayPal has been providing most of its payment infrastructure and this year more of its systems will be integrated with PayPal’s technology.
- PayPal is covering the PayPal Giving Fund's operating costs, meaning 100 per cent of donations made by eBay for Charity users will go to the cause. This does not include other donations made to charity through PayPal.