5 Ways Apple Pay Can Impact Nonprofits & Ministries.
Apple Pay broke ground about a year ago, offering consumers an easy way to pay merchants by simply using their mobile device. With an average of 67% of online payments being done from a mobile device and total mobile transactions estimated to reach $58 billion by 2017, Apples move in this direction is smart.
All four major credit cards (American Express, Discover, Visa, Mastercard) are on board now, and Discover is offering a hefty 10% cashback bonus on Apple Pay purchases through 2015. Apple is also boasting 700,000 merchants, and hundreds of banks as partners. Despite some general roll out hiccups, Apple Pay is not losing steam, quite the contrary.
So what does this mean for your nonprofit, ministry or church? Will Apple Pay have a positive or negative effect on you? This technology will be in the hands of consumers (AKA donors) and obviously in-line with the direction of streamlined virtual payments are heading (like NFC). Here are five potential impacts of Apple Pay for nonprofits.
5 Potential Impacts of Apple Pay for Nonprofits:
- Apple Pay can make a secure payment from a smartphone on a website with a single click. We know that the less steps a donor is required to make a gift, the better an organizations chances are for your donor to complete their gift transaction. Apple Pay auto-fills all the information that is stored associated with the card your donor is paying with.
- Apple Pay captures donors in the moment. The act of giving often starts with an emotional connection to your mission. The challenge for many nonprofits and ministries is capturing the attention of donors long enough for them to make that connection that leads to action. Apple Pay eliminates the time difference by making the response to giving virtually immediate.
- Apple Pay is taking in-person and event donations to the next level. Promotional events like walk-a-thons, convention booths or even face-to-face will be able to access the use of technology that allows them to make a gift from their phone instead of their wallet. Everyone has their phone on them. Create a poster for events with a QR code that directs Apple users directly to the donation page and within a few clicks a gift can be made.
- Apple Pay is next generation. Nonprofits are working hard to build bridges to the next generation of donors. Statistics report that younger generations are already more philanthropic than those who came before them. Apple Pay can set the tone for the younger donor culture on how you engage their gifts. By promoting a less traditional means of gifting, you are already speaking directly to them.
- Secure and Fast. Apple Pay does streamline the transaction process and put it right in your hands, however security is one of its assets too. With no card present to be placed in the hands of merchants or thieves donors have more control over the access of their payment information. Access is also secured with a finger print recognition scan.
How Can Your Organization Capitalize on Apply Pay?
Since Apple Pay is really about mobile giving and making it easier nonprofits and ministries have a somewhat passive role in implementing it. Basically think about how you can highlight and capture Apple Pay (or any other virtual wallet i.e Google Wallet, Softcard, CurrentC) at your next event, in your print materials or website. By calling attention to the convenience of Apple Pay or mobile giving you will encourage in the moment responses and be sending a message about how smart your organization is.