PayPal recently announced the launch ofGrant Payments, thereby helping more charities collect donations from all over the world through PayPal services and simplifying the donation record management process through digital means.
This service, in partnership with the independently operated National Philanthropic Trust and Vanguard Charitable, will make it easier for corporate donor-advised funds, community organization funds, or individual donors to donate through PayPal. It will also make it easier for charities to receive donations and record and manage donations digitally.
In the Grant Payments service, donors will be able to clearly know the recipients and donation amounts, while charities using this service will also be able to know who donated the money, how much, and when the donation was made. They can even decide whether to accept the individual donations or return them.
Normally, donations made through the Grant Payments service will be remitted to the designated account of the recipient within a single day.
Since traditional donation methods are mostly done through bank transfers, the intermediate process will be delayed due to processing operations, and even a lot of manpower, time and paper costs will be wasted. At the same time, processing fees will also be charged during the transfer process. Therefore, PayPal believes that if such processes can be changed to digital form, the workflow can be simplified, and even related information can be easily managed through digitalization, allowing charities to focus more on their own investment matters rather than wasting time processing donations.
In fact, this is not the first time that PayPal has provided services for charitable donations. In 2016, it proposed the PayPal Giving Fund certification, allowing charities around the world to increase their credibility through this certification, allowing donors to donate to designated charities with confidence through PayPal services.
The partnership with the National Charitable Trust and Pioneer Charities to launch the Grant Payments service aims to connect more charitable donations. While providing convenient remittance and payment services, PayPal also profits by charging processing fees for each donation.
