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Non-profit organizations would not exist without donations. It is important to make it as convenient as possible for donors to contribute to your cause. The purpose of this article is to explain how non-profit payment systems benefit your charity. It also explains how the process works and why safe and secure online payment processing solutions are necessary.
How Online Payment Processing Technology Increases Donations
The days of cash donations are quickly coming to a close. Today people spend a lot of time using their computers, smartphones, tablets, and other Internet-enabled electronic devices. Online payment processing technology allows donors to make donations directly from these devices through credit cards, debit cards, or ACH payments.
Providing donors with convenient donation options is key to bringing in more money for your charity. Online payment technology is also important because it helps to expand your revenue sources. They can also use the donation/payment portal to set up recurring gifts, pay membership fees, purchase fundraising products, and register for fundraising events. Online payment processing technology also greatly increases the probability that donors will follow through with their intent to donate.
How The Payment Process Works
As you are now aware, online payment technology allows donors to make donations through electronic devices. Here is how the process works:
- The donor donates online by using his or her credit or debit card.
- The online payment processing system verifies that the donor’s financial information is correct and that funds are available to cover the transaction.
- If the transaction is approved, the donation is deposited directly into your non-profit organization’s bank account.
For a more detailed breakdown of the electronic payment cycle, read our helpful blog here.
Why Safe And Secure Online Payment Processing Solutions Are Necessary
Securing your donors’ personal and financial information is a must when accepting donations online. You would not trust an online store that fails to secure your payment information – donors feel the same way about your charity. It is the payment processor’s job to ensure that your online payment technology is safe and secure. Your payment processor should be compliant with all Payment Card Industry (PCI) security standards. Otherwise, your charity could face penalties and fines if a security breach happens to occur.
Payment Savvy specializes in providing charities of all types and sizes with the best payment processing solutions available on the market today.
Please contact Payment Savvy to review your options, apply for a non-profit payment system merchant account, and obtain answers to your questions. We look forward to hearing from you and working with your company.
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