Thursday, February 27, 2014

Advantages of having a Merchant Service Accounts for NPOs

The benefits of credit card processing for businesses are limitless, but what about for non-profit organizations? NPOs can enjoy some serious advantages by allowing donors to conveniently make payments using their debit or credit card. Whether you NPO accepts monthly, yearly, or quarterly donations, a merchant service account can help keep the resources flowing and your donation records organized.

Top Reasons NPOs Should Implement Merchant Services Accounts

Consistent Cash Flow: When setting up an NPO merchant services account, the organization can enable donors to make donations each month, quarter, or year. This predetermined amount will be billed to the donor on a consistent basis according to the donation agreement.

Easier Reporting: If the donor pays with a credit or debit card, the donors credit card statement will show the NPOs name. This allows for easier reporting of charitable donations during tax time. 

Donor Convenience: Just as with business merchant services accounts, NPOs and donors can benefit from the convenience merchant service accounts offer. Whether at an event or at the NPOs headquarters, donors can make donations without the hassle of writing a check or going to the ATM.

Branding Capabilities: Just like for profit businesses, NPOs need a brand. Social media, email marketing campaigns, and live events are all tools to get the word out about the NPOs cause. With merchant services, donations can be taken as the donor browses your cause, news, and upcoming events. 

As with any new payment system implementation, the NPO must investigate what system will work best for their cause. Credit card and debit card processing systems vary from merchant service account to merchant service account. The NPO must decide whether or not they would like mobile equipment, stand alone processors, and/or mobile devices to process donations. 

Whichever route the NPO chooses, the organization will no doubt benefit from the implementation of a merchant services account. It is important for the NPO to research which merchant service company will suit their needs and the needs of their donors the best.  For more information about running a non-profit, click here.

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