|
 Over 40% of US mobile devices are app friendly and users are on a new movement towards the digital wallet.
How can your non-profit benefit from this fast growing wave?
Being the founder and executive director of a local non-profit, many times I would hear potential supporters tell me "I'll send you a check". Eight times out of ten, the check would never arrive without a follow-up.
Today, with the help of mobile payment systems, nonprofits can convert more donors by accepting credit cards on their mobile phones. This is great while at fundraising events.
There is currently three trusted major mobile payment apps available and more being launched early in 2012.
Square
We currently use Square at our non-profit and I was first introduced to Square from a young professional who volunteers.
It was easy to sign up and the free card reader arrived in a timely manner. Setting up the account
was a breeze both online and the mobile app.
The first transaction was quick and easy once we figured out which way to face the card in the reader. The donor received a receipt which included our contact info and 501(c)3 tax ID. TIP: We added this to the bio area.
Square charges a 2.75% fee on each swiped and 3.5% + .15 per hand entered transactions.
Within 24 hours our first donation via Square was deposited directly into our account.
One nice feature we like is that multiple users can be logged in and accepting donations at the same time. This works out nice for auctions. There is one issue that hasn't been discussed, because our non-profit hasn't needed customer support. Square has email or twitter only for support.
GoPayment
You may not be familiar with the GoPayment name, but the creator Intuit has been delivering innovative commerce solutions Quickbooks, Quicken, and Turbo Tax for years.
GoPayment has no monthly fee, 2.7% swiped card fee, a 3.7% keyed rate and the swip. After a online chat with a GoPayment agent
I found that the donation transaction will be handled by Intuit Payment Solutions and a deposit will be made in 2-3 days in
your organizations bank account. You can have upto 50 different user ID's signed in at the same time according to the chat agent.
PayAnywhere
North American Bancard launched PayAnywhere in February 2011 and prides itself on their 24-7 domestic customer service. Something the
other mobile payment providers lack.
Their fees for swiped cards are 2.69% plus $0.19 and hand entered rates are 3.49% plus $0.19 per transaction. You'll receive your funds
in 24 - 36 hours and the card reader is free.
If you are selling items at your fundraising event, the ability to set up inventory with photos and prices entered.
Each of these mobile payment options will help your non-profit organization increase donations during events or when you bump into a potential
donor at the coffee shop. They also have less fees then credit card merchant accounts, are mobile, secure, and easy to use. Utilize a mobile payment account and you'll make a impact on your fundraising efforts.
|
