To hit your campaign goal, you need to make it easy for supporters to give. The best way to do that? Accept a wide variety of payment options.
Gone are the days when supporters want to mail in a check to support the charities they care about.
Instead, many donors want to send their contribution quickly and easily, whether they're attending an event, watching a virtual live stream, or reading about your cause online.
To ensure supporters can donate on the go, you need to accept mobile payment options, like Venmo.
Venmo is a convenient, simple way to send and receive payments online. Through Venmo, individuals can easily split a bar tab, reimburse roommates for utilities, or pay contractors. Now, with the right fundraising platform, supporters can use Venmo to give funds for the causes they care about. Below, we explain the tools you'll need to accept Venmo donations, and how accepting a wide variety of payment methods can help you reach your campaign goal.
What is Venmo, exactly?
Venmo is a mobile cash app that allows users to send and receive payments without exchanging cash or checks. With Venmo, users connect their accounts directly to their bank accounts so they can automatically withdraw payments to send funds to businesses and individuals. When people receive Venmo payments, they can choose to send funds to their bank automatically (for a small processing fee) or within 1-2 days (for free).
While Venmo launched publicly in 2011, it grew exponentially in recent years. In 2020, processed $159 billion in total payment volume, showing a 59% increase in a single year. In addition, it's projected to generate $900 million in revenue in 2021, up from $450 million in 2020.
Venmo is owned by PayPal, and holds the number one spot for social cash apps. Other competitors, like Zelle (owned by seven of the largest banks in America) and Cash App (owned by Square) compete within the same space, but haven't acquired the same widespread use as Venmo.
How can Venmo donations help you hit your fundraising goal?
So, what does all of this mean for your nonprofit?
Venmo is the most popular app for electronically transferring funds.
While its sheer popularity might be enough to convince your nonprofit organization to offer it as a donation method, there are a few other advantages you should know about.
6 benefits of Venmo every nonprofit should know 💃
When it comes to making online donations, Venmo offers a number of advantages, including:
- Large audience: Currently, Venmo has 40 million users — allowing you to attract new supporters to your cause.
- Cater to mobile donors: In 2018, mobile use contributed to 57% of all internet traffic (and continues to grow). Venmo allows you a user-friendly, simple way to attract supporters through mobile donations.
- Donate in seconds: Venmo is one of the quickest ways to donate—which can be a major bonus to potential supporters. With Venmo, you (the nonprofit) do not need to set up a Venmo account to start accepting payments. Meanwhile, your supporters can donate in mere seconds on either desktop or mobile using the Venmo payment option.
- No minimum balance 🙌: With Venmo, users don't need to transfer funds to their account to make a payment (instead, funds are automatically withdrawn from their bank account, debit card, or credit card). This allows your supporters to easily donate on-the-go, whether they're attending a ticketed event or taking part in a volunteer opportunity.
- Attract a younger demographic 🤟: Venmo is an extremely popular app amongst millennials and Gen Z. This can help you reach a younger audience, which can be critical for the success of your online fundraising campaign (research shows that 84% of millennials give to charity).
- Tax receipts 🧾: One advantage to donating to the nonprofit sector is reducing taxable income. With the Venmo-Givebutter integration, supporters will receive an automated receipt for their online payment for their Venmo donation. Plus, you can customize these receipts to include a thank you note to your supporters.
How supporters can make a Venmo donation in just 2 simple steps
If you're looking to add Venmo as a payment processor for incoming donations, you're in luck. Now, with Givebutter, supporters can donate with Venmo in two simple steps—no matter if they're on desktop or their mobile device.
Givebutter was one of the first fundraising and crowdfunding platforms with a full Venmo integration. With Givebutter and Venmo, supporters can make a Venmo contribution through a donate button, your custom-branded fundraising page, or through ticketed events.
How supporters can make a Venmo donation on mobile 💪
With Venmo, supporters can quickly contribute to your cause straight from their phone or tablet. If supporters want to donate to your cause on mobile, they'll simply:
- Navigate to your campaign page on their mobile device, selecting Venmo as their donation button (the Venmo app will automatically pop up on their phone).
- Fill out their custom donation amount, and click finish.
How supporters can make a Venmo donation on desktop 🙏
While Venmo is a mobile app, we understand that not every supporter will be viewing your campaign from their mobile device. Therefore, we made it easier for supporters to donate via Venmo from their computer.
Givebutter recently launched a new feature to allow supporters to easily donate via Venmo through desktop. If a supporter is viewing your campaign page from their desktop, they'll simply click Venmo as their payment option, then:
- Scan a QR code (that automatically appears on their desktop screen) with their mobile device.
- Authorize Venmo to make their donation, then complete the checkout process.
Start accepting Venmo donations with Givebutter
Venmo has grown exponentially in recent years, partially because it doesn't charge transaction fees, it allows for multiple bank accounts, and it doubles as a social media app.
Venmo can help your organization reach its campaign goal by allowing supporters to easily donate on the go.
Unfortunately, many major fundraising platforms don't accept Venmo payments. In fact, Givebutter is the only fundraising platform that offers a full Venmo integration.
Givebutter is the all-in-one fundraising platform with 130+ tools at your fingertips, including robust fundraising pages, built-in CRM tools, and marketing automation. Plus, Givebutter accepts all payment options, from offline donations like cash and checks to mobile payment options like Google Pay, Apple Pay, PayPal, scan-to-donate, and of course, Venmo.
Ready to see how Givebutter and Venmo can help you hit your campaign goal? Launch your free Givebutter account to get started.
Kylie thrives on supporting others, making everyone’s jobs easier, and cinnamon in her coffee.