Proof that fintech and charitable giving can work together
Seventy-five percent.
That’s the percentage of Americans who want to give more to charitable organizations but are financially constrained, according to a recent Forbes article.
Think about that for a second. For nonprofit fundraisers that means it’s less about encouraging donors to give and more about removing the barriers that limit their generosity.
What an amazing opportunity. One that signals to me that incorporating fintech into the nonprofit sector has the power to transform charitable giving and change the world in truly profound ways.
With give now, pay later solutions in particular, nonprofits alleviate financial concerns for donors and allow them to contribute over multiple installments. Removing this concern from the start allows them to follow their hearts and give generously, while the organization is able to benefit from the total financial gift upfront - and in return, use their generosity to tackle societal challenges.
The scope of fintech’s potential in this arena is nearly endless. When people have the financial ability to give, they do it. Recent research by Charity Navigator showed that after the latest round of stimulus checks in the U.S., charitable giving spiking 237% with a 30% increase in the average donation amount.
Now with give now, pay later as an option, donors don’t need to wait for a windfall in order to give back. Instead, they can embrace the freedom the solution provides them, allowing them to give in higher frequencies and quantities, and ultimately, make the world a better place.
Learn how the Social Good's sector's first "Give Now, Pay Later" AI-enabled fintech solution can revolutionize the way you fundraise.