Malvern Bank on Charitable Giving: No Checks, No Cash? No Problem!

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Malvern Bank nonprofit fundraising
Image via Malvern Bank, National Association.

With the Internet becoming more and more a part of our daily lives, it’s important for nonprofits seeking donations to keep up with today’s 24/7 digital world.

Virtual donor engagement has become a vital element of a nonprofit organization’s communication and fundraising strategy. From their websites to their social media presence, the digital landscape transforms how organizations connect with, engage, and activate their audience.

When a donor says “yes,” now what? Over the last few months, we have been working with Chosen Payments for our upcoming foundation event. Click here to check it out!

We recently did an interview with Richard Scalesse at Chosen Payments about Merchant Services for Nonprofits.

What is Chosen Payments?

Chosen Payments is a national credit card processor that focuses on helping nonprofit organizations slash the cost of donation payment processing. Chosen Payments provides special credit card processing fees available only to nonprofits and makes quarterly donations to nonprofits that process their donation payments through Chosen Payments.

How have you seen the way nonprofits accept donations changing?

Donating platforms have changed the way nonprofits raise money. From high school football teams to purchasing Girl Scout cookies, online donations are the primary method of raising funds for 67 percent of all nonprofit organizations in the world. Of those groups who solicit donations online, 93 percent of their total income is received from fundraising platforms and online donation campaigns. Donation sites are generally as secure as any online banking institution or payment portal in the world.

Why should nonprofits choose Chosen Payment over other fundraising apps?

While fundraising apps such as GoFundMe, Greater Giving, and eTeamSponsor have virtually eliminated the need for fundraising car washes and door-to-door candy bar sales, the fees associated with using these platforms can significantly reduce the net proceeds. Approximately three percent of the donated amount will be deducted to pay for credit card processing costs. Then, the donation platforms will keep a percentage of the donation that ranges from 10 percent to 25 percent.

Chosen Payments can help nonprofits create their own donation pages on their own website and keep more money for the intended cause. With a custom app, your nonprofit can complete transactions on your website, through mobile phones, or through links on social media that will drive donors to donate. Chosen Payments offers convenience to nonprofit fundraisers by providing convenience to their donors.

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Patricia McLennan is Senior Vice President & Director of Community Development at Malvern Bank, National Association. To see how Chosen Payments can benefit your organization or to learn more about Malvern Bank’s nonprofit banking products, please contact her at 610-220-7179 or pmclennan@mymalvernbank.com.

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