Nonprofit Payment Processing: Your Ultimate Guide in Choosing

Payment processing is a necessary element for the modern nonprofit organization, as you primarily depend on donations from your benefactors to champion your mission and cause. As online fundraising procedures become more commonplace, your contributors ‘ personal and financial data deserves to be kept safe during an online transaction for your institution.

There’s a ton to consider and clarify when choosing a nonprofit payment processing service, and here’s a compilation of necessary information for you:

Nonprofit Background 

Whereas larger payment processors are a feasible solution for relatively small nonprofits that could not afford a dedicated application, they are not always the optimal alternative. Nonprofit organizations have to abide by legislation that does not apply to profit-making businesses, only by their purpose. If you need nonprofit payment processing, aim to seek one which has been exclusively developed for nonprofit institutions or has experience in collaboration with nonprofits.

First-class Privacy Features

Amongst the most significant characteristics that you need to keep in mind when choosing your nonprofit payment processing service is the level of protection that it can provide. You need to ensure that you want one that protects the information security of the customer. Sincerely, even as PCI adherence is the top priority to aim for, do not disregard Address Verification Systems, Bank Identification Number Blocking, CVV Requirements, and Information Encryption Features.

Accessible Customer Assistance

While searching for the best nonprofit payment processing, take into account the degree of immediate customer care that they provide. The performance of the payment processor won’t matter. Sooner or later, you’re going to need to call their help desk. This situation will be much simpler by selecting a processor from a company that provides free, comprehensive assistance throughout the year. When you need to customize your framework for better efficiency, you won’t want to put it on hold for 7 to 10 business days before you can get a solution.

Database Compatibility

Streamlined assimilation between your payment processor and your donation system will reinforce your general advocacy approach.

In the same context, you will want to choose a nonprofit payment processing that can be readily integrated into your other application functions. It’s particularly crucial for your benefactor registry. If payment data finds its way from your processor to your donor registry, you will be better armed with comprehensive knowledge. 

If you can, utilize the nonprofit payment processing that comes with donation information to its maximum potential. Not many of them provide this opportunity, but those who do incorporate your preceding needs major priority- an integrated nonprofit payment processing service. 

Utilizing the specialized payment processing structure of your donation database enables you to establish much stronger workflows than using a third-party payment processor, automates business and customer service procedure, and decreases the time and resources needed for duties such as accounting.

Payment processing is the foundation of your fundraising methodology, so ensure that you and your nonprofit are well equipped! If you’re using the perfect processor, your entire arsenal of campaigning strategies will be strong.

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