What Donors Should Know (And Love) About Give Now, Pay Later
Updated: Sep 15, 2022
In its simplest terms, Give Now, Pay Later hits all the right boxes for the way people not only want to donate, but EXPECT to donate to charitable organizations.
It’s easy, flexible and convenient.
While it’s a new payment concept for financial donors, so many of them have already crossed the path of its better-known sibling in the consumer space: Buy Now, Pay Later (BNPL).
And the usage so far, points toward flexible payment options being the way of the future.
From a consumer standpoint, Buy Now, Pay Later is all the rage. By 2025, BNPL is expected to account for approximately $680 billion in global transactions. It will account for nearly a quarter of all global ecommerce transitions by 2026, up from just 9% in 2021.
A big reason for this rapid growth? A steep decline in the overall usage of credit cards. In particular, Generation Z has been cautious of the use of credit cards, and shown personal preferences toward applications that allow them to spread payment over time without interest. The fact that it’s offered via a seamless digital experience is also a major plus for these digital natives.
How Consumer Trends Translate to Give Now, Pay Later
All of the trends we see occurring on the consumer side easily translates to how donors can leverage Give Now, Pay Later to make charitable donations and impact nonprofit organizations.
Considering the fact that individual donors contributed hundreds of billions of dollars to charities last year, but are also interested in ways to contribute more, shows the staying power of this flexible-giving solution aimed toward alleviating the financial pinch and empowering charitable giving potential.
So donors, here’s just a few ways Give Now, Pay Later changes the giving game for you:
While charities may offer you the option to participate in a monthly payment plan to extend your gift, you’re paying interest. With Give Now, Pay Later, there’s no interest and no hassle for the donor making it a much more donor-friendly approach.
Make A Difference.
No matter the amount you’re able to give, as a donor, you seek to make a difference by supporting a nonprofit you care about or a mission you feel will help change the world for good.
This is even more apparent with younger generations of donors, who care deeply about social issues and showcase an impressive willingness to support organizations that support the causes they value most. With Give Now, Pay Later, you can combine the type of flexibility and convenience you have come to expect in other walks of life but can apply it to helping charitable organizations move the needle in new and unrealized ways.
It Builds Trust.
Just think of the organizations in which you donate. What’s the common thread? They’re personal and meaningful to you. There’s an emotional connection. There’s trust.
That trust also needs to translate to how you give to organizations. As a donor, you need to know that your best interest is also in mind and that you’re not just a number. No matter the size of your donation, you need to know that your gift is impactful, too.
Give Now, Pay Later is technology for social good. It builds trust as a secure, online payment, but also connects the dots for donors and organizations to ensure there’s greater confidence and transparency in donations, while also driving results.
“I was done in a minute and a half and able to do it all on my phone. Honestly, it took me longer to find my credit card."
- David W., Givzey user
Expand Your Giving.
One of the best results we’ve seen with Give Now Pay Later is its propensity for donors to increase their giving amount and frequency, which is nothing short of revolutionary. We shouldn’t be shocked.
A recent industry survey revealed that the majority of donors would be willing to give more - and give more often - to organizations if they were able to make their gifts in installments.Flexible giving changes the way donors think about giving. It incentivizes you as the donor and creates a wonderful opportunity for you to make a bigger difference - without feeling the financial pinch - that you ever thought possible.
Learn more about Givzey, the first Give Now, Pay Later solution that gives your donors a smarter way to make their gifts.