MPayy discusses transaction costs in the nonprofit sector
Firstgiving, Google Checkout, Mpayy, Network for Good, donations processing | (10)
MPayy discusses their transaction costs versus that of two online donation processors in the nonprofit sector, FirstGiving and Network For Good:
According to sources, Network for Good charges 4.75%, while FirstGiving charges up to 7% in transaction costs to the charities. In other words, only $0.93-0.9525 of each dollar of a donation actually reaches the charity. Network for Good, in fact, doesn't actually get permission from charities, but rather has an opt-out program if charities do not wish to have Network for Good collect donations for them. According to the FAQ's on the Network for Good's website, they send the money ...