How Nonprofits Can Do More Good With Payments as a Service
Software platforms that serve nonprofit organizations (NPOs) face a unique challenge — helping NPOs scale and raise as much money for their causes as possible in a seamless, cost-effective and easy to use way.
The right platform should also offer NPOs the ability to manage and execute large recurring billing models, as well as the ability to run large one-time or recurring fundraising events in person and online.
NPO software platforms must also be designed with the understanding that the majority of their customers are cost-sensitive and have diverse billing needs. Additionally, it’s important to keep in mind that many NPOs are staffed by volunteers with varying degrees of technical expertise, which means that the platform should be easy-to-use and make managing funds simple and accessible. With some NPO customers, there is also the need for the platform to help manage underwriting for non-registered nonprofits that are not 501(c)(3), and to help validate churches.
As with for-profit businesses, nonprofits face competing priorities for time and money, which can get in the way of making a bigger social impact. That’s why payments-as-a-service can be a game-changer for these customers by giving them more control of the full donor engagement cycle, delivering a greater selection of seamless transaction experiences, and improving donor engagement — all on one platform.
Good Causes Deserve Great Tools
Payrix offers the managed functionality that NPOs need to keep their payment operations running smoothly, including:
- Flexible payment options
- Multiple acceptance models, including:
- Card-present — payframes, payfields into website, terminals
- White label mobile app
Payrix also offers PayFac®-level expertise in underwriting and management of nonprofits at scale, and its broad reporting/portfolio management capabilities allows NPOs to easily manage a diverse portfolio of merchants.
How Platform Payments Boost Nonprofit Revenue
When it comes to payments-as-a-service, it’s common for NPOs to rely on referral solutions — also known as integrated ISOs. This solution is popular for a reason — it enables out-of-the-box payments processing for a flat fee, plus a percentage of the transaction.
Although easier to implement, these referral solutions come at a cost. The additional mark-up fees and per-transaction costs take more from every donation — and add complexity to operations — which can result in a poor payments experience for donors.
Switching to embedded payments from an integrated ISO reduces transaction costs, which means more of every donation will be used for the intended cause. This benefit alone makes embedded payments a quantifiable win-win for organizations and their donors.
A flexible embedded payment solution like Payrix helps empower NPOs of all sizes. Whether the solution is used to simply facilitate payments for donations, or carry out more complex needs like event ticketing, recurring billing, or membership dues, Payrix makes it easier and more efficient for NPOs to handle these essential functions — and give them more time to focus on their core mission.
Build A Smarter Platform For Giving
Improving the platform experience with embedded payments not only helps NPOs boost revenue on each transaction — it also makes the process more seamless and stress-free for the donors.
When you can more fully facilitate payments on your platform, your software and payments will operate as a unified system. This more holistic approach gives NPOs more control over the donation experience, cuts out operational complexity, and improves the payment experience for donors, which may even improve the chances for repeat engagement.
With smarter performance tracking and account updater functionality, as well as broad portfolio and management capabilities, switching to embedded payments with Payrix is a straightforward, seamless solution for modern nonprofits to upgrade their payments capabilities — and reap the rewards of increased donor satisfaction, along with the overall impact for their cause.
Upgrade with Embedded Payments Experts
Collaborating with the right embedded payments partner will help you start offering robust and streamlined payment experiences at a fraction of the cost of building the capabilities in-house.
As a dedicated embedded payments partner for nonprofit software providers, Payrix understands the complex needs of the nonprofit software industry. We’ll work quickly to add an all-in-one core payments solution directly into your platform. We’ll even help you with ongoing maintenance and compliance requirements so your payments solution has the latest capabilities, and is always up-to-date.
Transformation Story: Powering Platform Payments for Nonprofits
Although there’s been a steady stream of new software designed to serve nonprofits, their payment solutions are often poorly integrated and difficult to use, which increases friction for organizations and their donors. Because nonprofits often lack the expertise and the resources to build and manage their own solutions, they’re often forced to settle for third party options that are less-than-perfect.
One SaaS company partnered with Payrix to deliver an end-to-end ecosystem of technology and services — including embedded payments — that are specifically tailored to the evolving needs of NPOs, so they can use more of their donations to help make the world a better place. Unlike other technologies that serve the nonprofit space, Payrix offers a unified toolkit for donor engagement, member management, event planning, volunteer tracking, and payments-as-a-service.
Payrix’s winning combination of technology, flexibility, and control helps platforms set their solutions apart — and helps NPOs make a more meaningful impact with every transaction.
Ready to Do More Good?
Managing payments and donations for nonprofits and charitable organizations may seem complicated, but it doesn’t need to be. Get in touch and we can help get you started with the right embedded payments solution to increase your nonprofit customers’ ability to deliver more good on their cause-based missions.
Increase Your Impact
With lower startup costs and a more robust, streamlined transaction experience, Payrix enables you to increase NPOs’ impact with less friction — and less overhead. Improve your revenues while upgrading customer experiences when you add embedded payment to your nonprofit software. See the opportunities for yourself with our ROI Calculator.