With the payment market becoming cashless, donations are funneled through online payment portals. Apart from simply making the payments, some payment processing for nonprofits also need the ability to collect information about the sponsors and donors.
So, if you want to understand this complex nature of nonprofits, here are credit card processors that are best suited to handle nonprofits as well as fundraising.
Stripe
Stripe is another popular payment processor and PayPal’s competitor. In addition to low rates, it works on a per transaction schedule, not on a lengthy contract. It offers all the 501(c)(3) registered nonprofits good discounts on processing fees. However, Stripe does not have any special tools but offers comprehensive features for nonprofits.
With a score of 4.06 stars, Stripe is rated as high as PayPal by its users. It has a customizable checkout page on which nonprofits can customize their checkout settings for accepting donations. Organizations with an account on Stripe can customize their pages by adding the amounts of donations as products that their donors can choose and redirecting them to their “Thank You” page.
GETTRX:
GETTRX is a payment processing company that provides financial technology. From in-person payments at a small business to e-commerce platforms to large tech enterprises, GETTRX offers elegant payment solutions and technology that fits every business model.
No matter the size or structure of your merchant business, It offers solutions to help; they provide developer support, integration assistance, and customer service for your merchant’s needs.
The industry-leading customer service team has always set GETTRX apart, so they can easily provide around-the-clock care to your merchants.
PayPal
PayPal is best for local charities and organizations that receive donations both online and on-site. According to a study, people are more likely to donate to nonprofits if PayPal is an option for payment. PayPal offers discounts on online processing fees for charities and nonprofits. The organizations should have a PayPal business account to receive the donation through the payment platform.
National processing
Nonprofits working with National processing get good discounts, and it offers additional donations to charities. National Processing provides merchant accounts to organizations and is transparent in terms of pricing and contract fees. In addition, the processing rates are also low, especially if the nonprofit receives smaller donation amounts.
National processing offers all its users a free payment gateway, mobile processing, and a virtual terminal. They don’t ask nonprofits to sign a contract but charge a termination fee.
GoFundMe Charity
Gofundme is another payment processor, but it is known for personal crowdfunding. However, charities and nonprofits can also set up a page on the Gofundme website. The platform does not charge any fee to use it. The processing fee for nonprofits is 2.2% +$0.30. There is no need to sign up with a credit card processor, as once you set up a donation page on GoFundMe, it will deduct the processing fee itself when you receive donations.
Nonprofits can also create a customized page for fundraising with their logo, manage data, sell event tickets and receive donations on the same page. You can use GoFundMe to spotlight your nonprofit campaigns.
Dharma Merchant Services
Dharma has a long tradition of supporting nonprofit organizations. Every year they donate a percentage of their profit to charity, so even their processing fees work out well.
Additionally, Dharma offers nonprofits an additional discount on their low rates. Dharma also ensures that your account is classified correctly so that you receive the lowest possible interchange fees. It ensures that the nonprofit is registered with a credit card company to get the lowest interchange rates.
There is a virtual terminal for nonprofits for processing offline donations. The terminal is integrated with 4aGoodCause that manages your donation page for a monthly fee. Donors can manually enter the payments from a browser.
Charity Engine
If a nonprofit runs multiple campaigns, it needs a solution to handle everything from events to donations. Charity Engine is a fundraising solution that offers payment processing but only online. Nonprofits can run events, manage mail campaigns, set up donations, and run peer-to-peer fundraisers.
With CharityEngine, you can process credit card funds, e-checks, and also direct transfers. However, nonprofits need to call their number to inquire about pricing as prices are not available online. It offers a user center for nonprofits where they can allow recurring donors to manage their personal information like credit card details and communication preferences.
Nonprofits need to spend some time on research to choose the best suitable credit card processor based on their requirements.
Let us know what do you think about the above non-profit credit card processing solutions in the comment!
