Payment processors enable nonprofits to receive debit or credit card payments online through different gateways. You can connect your payment processor to your website, CRM and your digital fundraising platform. These processors perform various functions such as evaluating transactions to make sure they are valid and approved, and provide fraud protection. This way the donor’s credit card information is not on your organization’s servers and is kept on the processor’s secure and compliant server.
When selecting a payment processor, make sure that it is PCI compliant. This means that the processor meets all rules and regulations set forth by PCI Security Standards Council. These guidelines ensure standards for payment account security. Your payment processor’s PCI compliance reduces the liability and risk to your organization that comes with handling a donor’s personal information.
Along with security compliance, it is important to make sure that all of the systems you are using are able to integrate with each other. A solid integration means that your organization will have to spend less time tracking payments.
Think about what type of transactions your organization needs to process online. This can consist of:
- One time donations
- Recurring donations
- Ticket sales
This all depends on your specific needs. For example, if your organization wants to push for automated recurring donations, make sure your payment processor allows donors to set this up at the time of payment. This can be a very useful tool in fundraising, since your fundraisers won’t have to continue asking that donor for repeat donations.
Rallybound’s online fundraising platform allows you to use any of our approved payment processors, which includes many of the most popular providers today – iATs Payments and PayPal will both be exhibiting at NTEN NTC 2018.
This is our second post in our build your stack at NTEN NTC series. In case you missed it, you can find part one here.