Successfully managing a nonprofit organization is no easy feat. Hosting fundraisers, spreading awareness, and collecting donations are just the basics of running a nonprofit organization. Knowing how to effectively communicate with and market to prospective donors and supporters is also essential for any Nonprofit. However, even with that covered, you may still be missing a huge part of your success: merchant services for nonprofits.
Being able to process payments for nonprofit organizations is a must to maximize your ability to succeed in this endeavor. Understanding the importance of non profit payment processing solutions can help save time while ensuring your organization is ready to accept online donations.
A merchant account for non profits gives your business the ability to accept card transactions online or through an on-site terminal. The account grants permission to the nonprofit organization to accept and process payments from vendors, suppliers, and donors. Using a non profit credit card processing service is highly advisable as standard payment processors are apprehensive about working with nonprofits. To tier one payment processors such as Paypal, Stripe, and Square, nonprofit organizations are considered high risk, resulting in denial and closure of accounts in this industry.
Choosing a payment processor that specializes in catering to nonprofits is the only way to streamline the process of accepting donations. Using a non profit merchant account, avoid getting stuck with high processing rates and unsustainable fees in your organization. Using a traditional payment processor can result in these higher fees because of their belief that businesses of this type are risky in nature.
Even with a 501C, a standard payment processor cannot protect the business or themselves from risk. They are unable to properly underwrite this industry type and have subpar relationships with processing banks that can support it.
Donors also have the ability to reap the benefits of a non profit merchant account. With an account of this type, offer the supporters and donors of your nonprofit the following:
Obtaining a nonprofit merchant account of your own is possible by finding a reliable processor specializing in nonprofit organizations. While the application process is not always simple in a high risk industry, it is possible to receive approval for your merchant account by providing the following:
Obtaining a high risk merchant account designed for nonprofits is one of the best ways to protect your organization. Using a high risk provider will give you the best shot to processing payments in your nonprofit quickly and with maximum flexibility. With a trustworthy and reliable non profit credit card processing service, continue running your nonprofit organization without disruption.
With an account manager in your back pocket, businesses who use us to secure a merchant account have great support before, during, and after they get set up with non profit payment processing. Each of our account managers is adept with the industry and is there to understand your wants and needs. PaymentCloud has the banking relationships to get you setup, the security to keep you safe, and the underwriting to keep you processing as you grow.
Create an account and start accepting payments almost instantly. Or contact us to design a custom package or your business.
From day one, Miles has been an overwhelming help to me in making sure I am making the best choices for building my business. His patience with me as he helped me step by step in submitting my application was so appreciated! …The team has been amazing across the board, and I truly cannot thank them enough!
I've been working with the folks at PaymentCloud for about two weeks now. They have made it super easy and they guide you through everything! Their customer service and support is awesome! I'm so glad that we connected with Michael S. and all the other folks at PaymentCloud. Highly recommend!
The agent who helped me to onboard was attentive and consistent throughout the process... They made sure I knew how to manage my accounts and had them properly set up and in compliance. They turned what could’ve been an intimidating process riddled with errors into a smooth transition for my business.