Best Payment Processing Tools For Nonprofits

Offering donors a variety of payment processing choices, including credit card payments, cryptocurrency, and digital wallets, is advantageous. Hence, it’s crucial to pick a nonprofit payment processing platform that is safe, practical, and able to handle your supporters’ preferred payment methods.

• Selecting the appropriate payment processor is a crucial step in ensuring your donors have a wonderful giving experience.
• You can increase the conversion rate of your contribution page and gain the trust of contributors by enabling them to donate what they want, when they want, and how they want.

Top Nonprofit Payment Processing Tools

In this article, we will consider some of the most popular and effective payment processing platforms for nonprofits.

1. Stripe

 Stripe is one of the most popular payment processors for charitable organizations. It supports more than 135 currencies and all major credit cards along with ACH and Digital Wallet payments. Also, the platform is working towards supporting cryptocurrency transactions. Stripe enables contributors to enter their payment information on your donation form via its industry-leading API integration with your organization’s CRM. The platform also processes donations daily.

2. PayPal 

PayPal lends legitimacy to your nonprofit, especially if you are just getting started. It is the second most trusted brand internationally. PayPal is considered the perfect payment processing solution for new and small organizations, especially for nonprofits with a donor base predominantly from North America. Even more, there are no additional fees for account setup, statements, withdrawals, or cancellations.

With the help of PayPal’s payment processor, you can design a donate button for your website that will enable contributors to make quick donations. The platform accepts all major credit cards, ACH transfers, and digital wallet payments in 25 different currencies with a two to three-day payback period. 

However, donors who wish to use their PayPal account to donate must exit your website. This often makes it less efficient for supporters as they are more likely to give up on their contributions if they have to complete additional steps.

3. iATS

iATS payments is one of the best payment processing tools designed specifically for nonprofits. It allows groups to sync financial reports under a single processor and interfaces with dozens of fundraising systems. This includes CRMs, Peer-to-Peer, and text-to-give providers.

Also, donors can make contributions using the top credit cards available on the market. This also includes ACH which provides access to five primary currencies and a gateway to 180 more currencies.

4. Square

Square is a wonderful choice if your organization manages several point-of-sale transactions for donations or purchases like events or in-person fundraisers. Square also provides crucial CRM capabilities to sift donor data, send emails, and get feedback via digital receipts. Within 1-2 days, the platform processes payments made with all major credit cards, ACH, and digital wallets.

5. Authorize.net

Since 1996, Authorize.Net  which is owned by Visa has served as a top supplier of services for payment processing. This processor offers extensive fraud prevention tools, possibilities for recurring donations, and digital invoicing. However, it is more expensive than other charity payment processors. In addition to transaction fees, there is a monthly fee.

Authorize.Net accepts all credit cards, ACH transfers, and payments through digital wallets in five different currencies.

Conclusion

As a nonprofit, selecting the appropriate payment processor is a crucial step in ensuring your donors have a wonderful giving experience. Even more, you can increase the conversion rate of your contribution page and gain the trust of contributors by enabling them to donate what they want, when they want, and how they want.

Remember that your payment processor is a crucial part of your online fundraising plan. Hence, before opting for a choice, ensure it works with the other tools your charity organization uses.