Online Credit Card Processing For Nonprofits: Everything you Need to Know!

As a nonprofit, you may be wondering if online credit card processing is right for your organization. The short answer is: yes! Online credit card processing can be a great way to increase donations, streamline event registration, and take payments for membership dues or other products and services. In this article, we’ll cover everything you need to know about online credit card processing for nonprofits, including the benefits and costs.

The Benefits of Online Credit Card Processing for Nonprofits

There are many benefits to using online credit card processing for your nonprofit. Perhaps the most obvious benefit is that it allows you to accept donations from a wider range of people. 

If you only accept cash or check donations, you’re likely missing out on potential donations from people who don’t carry cash or checks with them, or who prefer to donate using a credit card.

Another benefit of online credit card processing is that it can help you streamline event registration. If you’re using paper forms and manual processing, you’re likely spending a lot of time and money on paperwork and postage. By switching to online credit card processing, you can save time and money by allowing people to register and pay for your events online.

Finally, online credit card processing can also be used to take payments for membership dues or other products and services. This can be a great way to increase revenue for your nonprofit and make it easier for people to pay for what they need.

The Costs of Online Credit Card Processing for Nonprofits

There are some costs associated with online credit card processing, but they’re generally very reasonable. The biggest cost is typically the transaction fee, which is a small percentage of the total transaction amount. This fee goes to the credit card processor, not the nonprofit.

Another cost to consider is the cost of a payment gateway, if you don’t already have one. A payment gateway is a piece of software that allows you to accept online payments. Many payment processors offer free or discounted payment gateways to nonprofits.

Finally, you may also need to pay for a merchant account, which is a bank account that allows you to accept credit card payments. Merchant accounts typically have monthly fees and higher transaction fees than regular bank accounts. However, many payment processors offer nonprofit discounts on merchant account fees.

Overall, the costs of online credit card processing for nonprofits are very reasonable. When you compare the costs to the benefits, it’s easy to see why online credit card processing is a great option for nonprofits.

If you’re ready to start using online credit card processing for your nonprofit, the first step is finding a reputable payment processor. We recommend considering PaySimple, which offers nonprofit discounts and a free payment gateway. Click here to learn more about PaySimple and get started today!