Do you know about - Online Donations for Your Charity
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A lot of groups want to accept prestige card donations or fundraising auction payments online, but don't know how to do it. There are three main ways to accept payments online: use PayPal, use a nonprofit prestige card processing service, or get your own merchant account.
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PayPal
PayPal is by far the easiest way to deal with prestige card processing for donations and auction payments. Why? Because they are a branch of eBay, the world's largest auction company.
With PayPal, you register for an account using an email address that will serve as the entrance point for your account. You verify the email address by clicking a link in an email sent by PayPal and your account is operational.
Most groups will want to set up a enterprise account with PayPal so they can wire their funds from PayPal to their checking account. PayPal requires you to verify your bank account information by making a small deposit to your account and having you confirm the whole deposited.
Within PayPal, you take Merchant Services and then Donations, then enter some basic information that enable you to track your donations. Then, you take one of four donation buttons to use on your website. That's all it takes!
Accepting online payments for fundraising auction items is just as simple. All you need to do is email your winning bidder a PayPal payment link for their purchase. They don't need to have a PayPal account, just a Visa, MasterCard, or other valid prestige card.
Nonprofit prestige Card Processing
For handling larger volumes of prestige card transactions on a regular basis, you'll want to step up to a more robust platform. The good news is that there are any companies who provide prestige card processing for nonprofits at very inexpensive rates.
Network For Good is one assosication that I very recommend. They deal with all things for a low monthly fee of .95 and 3% of total donations.
You can customize your donation pages to match your website and have tax-deductible receipts emailed automatically. In addition, they also deal with recurring donations.
Other solutions blend in with donor administration software such as DonorPerfect so you can track donations and follow up in the time to come with each donor's history on file.
Merchant account prestige Card Service
Let me start off by saying that there is no such thing as a free merchant account. There are all the time costs complicated and anyone claiming to provide a free merchant account is only shifting those costs into other fees and higher processing charges.
Your best bet is commonly your own bank. Larger banks offer merchant accounts at competitive rates and they are already well-known with your organization. Still, there is an awful lot of paperwork complicated in setting up merchant account prestige card services, so be ready to spend a integrate of hours filling out the forms.
You should also know that banks and prestige card companies charge much higher transaction fees for so-called internet merchant accounts. That's because there is a higher incidence in fraudulent purchases in online transactions.
It won't make any disagreement to them that your transactions are mostly nonprofit donations. You're still tarred with the same broad brush of high risk, even though you're accepting prestige card donations!
You can shop around and assess rate structures and upfront costs, but it's a buyer beware situation. Your final rates aren't set until the underwriting branch of the merchant account victualer assesses your risk level.
In addition, a board member or top menagerial may have to provide a personal warrant to cover potential chargebacks after payment has already been released to your bank account.
One main benefit of having your own merchant account is the quality to process prestige card payments onsite at a charity event. That greatly simplifies running a large silent auction or live auction fundraiser.
Accept prestige Card Donations Summary
It makes sense to accept donations on your website. PayPal makes it straightforward for even the smallest of groups to accept prestige cards online.
Network For Good and similar organizations provide a transitional platform that allows growing nonprofit groups to present a more pro donation system, including tax receipts and recurring payments.
Having your own merchant account assistance is the final step for the largest organizations. Factory may be more complicated than you think because your payment processing needs to be integrated with all your other systems.
Whichever one you choose, keep the donor's needs famed and you'll be pleased with the increased flow of donations.
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