![]() ![]() This button will allow your nonprofit to accept donations using PayPal’s software, but it may involve donors leaving your site and completing their transactions via PayPal. PayPal has an easy-to-create donate button that your nonprofit can add to your site with minimal setup. PayPal offers several different online software solutions for nonprofits. If your nonprofit decides to use PayPal as your online payments solution, it’s vital that you verify your charity status. In order to qualify for the charity rate, a nonprofit must get their charity status approved by PayPal when they set up their account. How Does PayPal Work for Nonprofits?įor nonprofits, PayPal offers a “charity” merchant account that comes with lower fees than their traditional merchant accounts. PayPal users maintain a secure “digital wallet” that allows them to transfer and receive funds and make purchases without ever disclosing their financial information. One thing that’s important to note: These different PayPal products charge different fees than PayPal’s online services. ![]() PayPal also has solutions for in-person payments, including credit/debit card readers, QR codes, and POS systems. In 2014, PayPal was spun off from eBay to become its own publicly-traded company.Īs PayPal has built its business over the years, the company has expanded beyond online transactions. In 2013, PayPal purchased BrainTree, a payment gateway company that had previously purchased Venmo. Later that year, the company was purchased by eBay, where it became the default method of payment for most users. After striking it big with their digital wallet product and merging with X.com, PayPal went public in 2002. The company was founded in 1998 as Confinity. PayPal has a long history as a digital payment processor. The platform allows its users to transfer funds or make purchases without their private financial data being disclosed to the other party. PayPal is particularly useful for international transactions and for users who are concerned about security. For each transaction, they charge a set percentage of the transaction and a flat per-transaction rate. Instead, PayPal charges fees on their users’ payments. Creating an account is free, and the company does not charge their users any monthly fees. PayPal offers accounts for both individuals and businesses. Customers can link their bank account to their PayPal account and use PayPal to send and receive money, make purchases, and more. They are one of the largest, oldest, and most trusted companies in the space. PayPal is an online payment processing company. Here’s everything you need to know to decide if PayPal is right for your nonprofit. PayPal for nonprofits is one of the most popular payment processors out there. In order to accept online donations, you’re going to need a payment processor. Online donations are a critical part of nonprofit fundraising. ![]()
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