increase cashless donations

It’s estimated that 14.9 million Australians (that’s 80.8% of the population) gave $12.5 billion to charities and not-for-profits organisations in 2015 and 20161. That’s a whole lot of money and it’s great news for charities all over the country.

However, the charity landscape is competitive. There are now over 55,000 registered charities in Australia and it has, therefore, become harder to fight for a share of the multi-billion-dollar pie.

Donors also want the ability to donate what, when and how they want, with minimal effort. So, it’s important that charities make it as easy as possible for people to donate.

Let’s call it a ‘cashless donation solution’

Of all cashless donations in Australia, Direct debit and BPAY make up roughly 10 percent with EFTPOS and credit card comprising the remaining 90%.2 3

Australians are carrying less cash than ever before, so being able to provide potential donors with a ‘cashless donation solution’ significantly increases the amount of money your organisation can raise.

We understand that modern donors are both tech savvy and time poor and are pleased to be able to offer both direct debit and EFTPOS payment options. With donor retention just as important as acquisition we can provide you with a solution to automatically collect repeat donations. Building relationships with younger donors also improves the likelihood of receiving further donations in the near future.

Donors are giving more

Not only are charities receiving donations from people who would normally be giving, they’re also receiving more from each donation.

Statistics show that when donating via an EFTPOS device, donors are more likely to give larger amounts compared to cash. Charities using EFTPOS devices have also seen an uplift in the number of ‘big’ donations they receive, where the amount is greater than $100.

In the United States, the numbers are even more compelling. Research from Visa USA indicated that 10% of Americans believe they would use a credit or debit card to donate. The average one-time donation on a card is also $99, compared with approximately $20 with cheques or cash.

Increase cashless donations with Live eftpos

Accepting card payments can increase donations in several ways:

  • Reduced follow-up: donations via credit or debit card remove the need to for follow up invoices or phone calls.
  • No cash: card payments make it easier for donors to support generously and mean you don’t have to rely on them carrying cash.
  • Improved cash flow: Administration costs are significantly lower with card payments processed automatically.
  • Reduced costs: Lower cost of cash and cheque collection, data entry and direct mail.
  • Recurring payments: Accepting automatic card payments encourages donors to give regularly or to spread contributions over a period which can provide a regular stream of contributions. There is also less time spent on completing paperwork and postage costs.
  • Younger donors: Online donations are increasingly popular with younger donors and the use of recurring payment tools such as Visa Account Updater are on the rise.

There is untapped potential for debit and credit cards as payment options for donors, so if you’re running a registered charity or not-for-profit, there’s never been a better time to implement your “cashless donation solution”.

March Madness

Live eftpos is currently offering a special rate for DGR registered charities and not-for-profits as part of our March Madness promotion. Click below for more information.

1.Fast facts and statistics on giving in Australia
2.NAB Charitable Giving Index In-depth report – August 2014
3.NAB Charitable Giving Index In-depth report – August 2016

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