If a supporter wants to donate to your nonprofit, are they able to do so easily? Can they use their preferred payment method when they do so?

Is Your NFP Ready for the Coming Cashless Society?

If your answer is “no” and your NFP doesn’t have plans to adopt newer payment methods, your board might want to rethink its strategy.

Australia is increasingly becoming a cashless society. Nearly 82% of all Australian payments now occur without the use of physical cash. While credit and debit card use is steady, over half of these payments are made by consumers using mobile electronic payments. Digital wallets are one of the most popular forms of electronic payment, as it allows users to ‘tap and go’ or otherwise pay using their smartphone. If your nonprofit doesn’t take steps to stay current, it runs a real risk of losing out on contributions.

Why Your NFP Should Consider Adding Apple Pay

Recently, ANZ became one of the largest banks in Australia to add support for Donate with Apple Pay. Now, supporters can use the fundraising platform, Shout for Good, to make either online or ‘tap and go’ payments at over 60 aligned charities. Acceptance of this new payment method is expected to rapidly grow in the coming months. Consumers like Apple Pay  because they feel that it is a faster, and more secure way of making donations and other payments.

Speed, Security and Privacy

One reason why Apple Pay may be safer than some other forms of electronic payment is that it doesn’t share the user’s credit card information with the merchant. It also uses a unique transaction code and number specific to the device during processing, so that the user’s credit card number is also not stored on the device, or on Apple’s servers. When using it to donate online or in-person, users don’t have to take the time to fill out their information, or enter their credit card number, into the various fields. Each of these steps goes a long way to reducing concerns about privacy and security, in addition to saving users time.

Simple and Efficient

It can also be a more convenient way to pay, even when donating in person, during a live event. Instead of needing to go to the hassle of stopping by an ATM to withdraw cash, supporters just tap and go, and give the amount that they wish, at the touch of a single button.

Most of Your Supporters are Already Using it Elsewhere

Using this payment method is probably already very familiar to most of your supporters. The iPhone is overwhelmingly the number one smartphone owned by Australians, so it’s a good bet that many of your followers are already using Apple Pay. They are already using it to pick up the tab at their favourite pubs, restaurants, sporting events, supermarkets and other retailers. Even children are shedding their reliance on notes and lose change and using it to buy snacks and supplies!

Staying current with the latest trends in payment processing technology and expanding your payment options makes it easier for supporters to donate. It also makes it simpler for your nonprofit to take in the funding that it needs to support operations and capital projects in order for your NFP to grow and develop. As you can see, it is a big win for everyone.