Originally posted by NonProfitPRO today on August 21, 2017
Over the past few months, I hope I showed you how monthly giving has become so much easier for nonprofits to organize and then actually start.
That’s because so many payment processors and donor bases now have built-in tools to create giving pages, add the recurring/monthly option and capture new monthly donors without a lot of jumping through hoops.
Having said this, if you’re still hesitant or you think you really do not wish to handle the in-house processing of monthly donors, there is the option of outsourcing the whole process.
External monthly donor processing options are here! In fact, they’ve been around for many years. Organizations that started monthly giving years ago have created the landscape, and you’re reaping the benefits.
The companies I come across most are Payment Solutions, EFT Corporation, Caring Habits and Vantiv Solutions.
(Please forgive me if I forgot somebody! Feel free to let me know if you’re offering this service, and I’ll add you to my list!).
These payment companies are experts in processing your monthly donations, especially for Electronic Funds Transfer, as well as credit and debit cards. They’ll help guide you every step of the way, all for a small fee. That’s more than recouped by the tremendous annual value of a monthly donor ($288 a year!).
So, if you’re worried about your regular monthly donor processing or if you’re still investigating options, I highly recommend you check some of these out and see what fits best for your organization. I’d definitely make sure that they have the account recovery option for you as that’s going to help you with your credit card retention rates.
All you have to worry about now is acquiring those monthly donors, and these partners will give you the tools to get the donor’s payments in every month!
Monthly giving absolutely does not have to be scary. So, have no fear, payment processing help is here!
