How does it work?
- placeHOW TO PARTICIPATE IN A PROJECT
placeHOW DOES THE ELECTRONIC WALLET WORK?
- To participate in a STARS4ALL project, just click on the "back this project" button or directly choose a contribution.
- The fundraising is done by bank transfer or credit card transaction charging the donor’s electronic wallet. The money will be exclusively dedicated to the selected project.
- When the collection reaches its end and goal, all funds collected on the donors’ wallet are transfer onto the STARS4ALL wallet. Only then the project will be able to use the different backers’ contributions.
- On the other hand, if the project does not reach its goal by the ending date, donors will be able to recover their donations either by receiving an automatic refund of their credit/cash card or by asking to receive the money through a bank transfer.
placeALL OR NOTHING
- When a donor selects a reward and registers in the platform, an the electronic wallet associated to his/her account is created.
- When a donor decides to fund a campaign and complete the associated transaction by either using a credit card or by transferring money from a bank account, this payment is automatically confined in the donor’s wallet.
- Afterwards, if the campaign meets its goal, the funds will be finally made available to STARS4ALL. If, instead, the campaign does not meet its goal, all project’s backers will have the opportunity to choose whether receiving their money back (by transferring them from their e-wallet to their bank account) or contributing to another campaign.
- The solution implemented by MIPISE ensures balance between the availability of funds pledged by donors and investors along the crowdfunding campaign and the necessity that the process will respect safety and transparency principles, both from technical and legal points of view.
placeHOW DO THE REWARDS WORK?
- STARS4ALL projects must achieve the 100% of their goal in order to receive the money from backers. This is an important guarantee for users to be investing in a viable project.
- Thanks to this rule, it is guaranteed that STARS4ALL will have the funds necessary to carry out the project and provide all the rewards.
- In the opposite case, if the project does not reach its goal, the system will offer the reimbursement of contributions to all donors.
- The project manager has the option to extend the time duration of the campaign if donors have expressed interest on it. In this case, donors who do not wish to continue their support for the project may be reimbursed free of charge.
placeHOW ARE MIPISE'S FEES COVERED?
- The different Stars4All campaigns set the rewards in exchange for contributions from donors. Their delivery will be ensured only after the campaign end and success.
- A partnership agreement was signed between STARS4ALL and MIPISE. The agreement also includes payment for MIPISE, covering the service provided. No money are perceived by MIPISE from the donors.