An innovative scheme that aims to revolutionise charitable giving in the UK could be launched next year. Pennies4change will allow customers paying for goods in shops using a chip and PIN terminal to round up their transaction to the nearest pound and give the extra amount to charity. Even if only 4% of customers chose to donate through Pennies4change, the scheme would generate £112m a year, said founder Dr David Dent of the Pennies Foundation.

However, research suggested uptake could be much higher, he added, with more than half of people questioned saying they would give regularly through the initiative. A number of the UK’s leading retailers, including grocery retailers, are to meet the Cabinet Office next month to discuss taking part. Dr Dent has already held talks with retailers, banks, charities, government and celebrities.