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Non-profit organizations have always needed a source of financial provision to sustain themselves, cover their expenses and improve their management. Churches are not the exception, over the years it has been necessary to collect funds to support the institution and the support of those who remain in charge of them. For this reason it is necessary to adapt to technology to obtain its benefits in favor of churches and other institutions, making it that potential tool to project organizations and connect with people through websites, social networks and virtual communication channels. If we make resistance to this truth, institutional recognition and development are limited and fated to failure. This is the reason why we recommend consulting experts in the technological area, who are financial specialists, to adapt your organization’s digital platform to this type of business, providing suitable alternatives to clients and donors to make their payments, eliminating the barriers between audiences and the organization. One of these platforms that allow these operations to be carried out is the one created by the company Purpose Financial, which provides companies and organizations with solutions and technology for payment processing. Its platform, Purpose Giving, allows you to receive payments and contributions with the full protection of money, with an interface where donors will feel safe and comfortable when processing their operations and which is also bilingual, thereby facilitating access to users who prefer either English or Spanish. Its electronic payment method allows many ways of capturing payments, such as through a text message, which consists of doing it from your mobile phone to a local number and you will receive a confirmation of your operation; by mobile application, optimized for any type of device; the platform also allows you to create an embed code to integrate it with your church’s mobile application or website, transfer payments, credit, debit, encrypted cards, supports all cards (Visa, MasterCard, American Express, Discover, JCB, Diner’s Club) or electronic checks with lower transaction fees than the card ones. Having a digital platform that allows you to receive payments from your donors is an unlimited advantage, since it is available 365 days a year, it does not take long to execute as it only takes seconds to carry out financial operations, it does not require the presence of none of those involved since the data is enough to process the voluntary contribution, increases income significantly, because nowadays many people avoid contributing because the organization or church where they are involved does not have electronic payment methods. The time to move forward has come, if you are one of those who had not yet taken into consideration the use of these platforms for the benefit of your organization, do it now, go further, reach more people, expand your ministry. Offer your taxpayers and donors a safe, fast and responsible way to protect their money until they reach the desired destination.
Most businesses are on tiered merchant accounts, which can offer a variety of rates when it comes to the type of transaction and payment method used. Tiered merchant accounts work on something called “Qualification” to determine which rate tier a merchant’s transaction falls into. The “Qualifications” are implemented by the credit card processors. The word “tiered” indicates that the merchant account provider splits all card transactions into separate “tiers” or “buckets.” The most common tiered pricing structure includes three tiers of pricing: Qualified, Mid- Qualified and Non-Qualified . The major credit card networks post a qualification matrix which dictates what interchange category a transaction will post to based on: 1. How the transaction is entered (swiped, keyed in, etc.) 2. What type of card is used (rewards, non-rewards, corporate cards) Once the card is swiped or keyed in, the credit card terminal talks to the cardholder’s bank to identify the card type and then places the transaction into one of the three tiers. It’s easiest to understand this system if we run through an example:* Qualified Rate: 1.79% (regular card, swiped face-to-face transactions) Mid-Qualified Rate: 2.09% (rewards card swiped, keyed in) Non-Qualified Rate: 2.39% (corporate card, ZIP code verification incorrect) Example: A rewards card is swiped at your terminal. You pay a Mid- Qualified 2.09% for that transaction. But if this is an over-the-phone transaction, you will pay the Non-Qualified Rate. * These rates are part of an example and not actual rates Understanding the different pricing models and how each of them could benefit you, as a small business, could definitely be a difficult task. A part of being successful while starting your own business is to know what you are spending your money on; and we want to share all of our knowledge to see you succeed.
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Non-profit organizations have always needed a source of financial provision to sustain themselves, cover their expenses and improve their management. Churches are not the exception, over the years it has been necessary to collect funds to support the institution and the support of those who remain in charge of them. For this reason it is necessary to adapt to technology to obtain its benefits in favor of churches and other institutions, making it that potential tool to project organizations and connect with people through websites, social networks and virtual communication channels. If we make resistance to this truth, institutional recognition and development are limited and fated to failure. This is the reason why we recommend consulting experts in the technological area, who are financial specialists, to adapt your organization’s digital platform to this type of business, providing suitable alternatives to clients and donors to make their payments, eliminating the barriers between audiences and the organization. One of these platforms that allow these operations to be carried out is the one created by the company Purpose Financial, which provides companies and organizations with solutions and technology for payment processing. Its platform, Purpose Giving, allows you to receive payments and contributions with the full protection of money, with an interface where donors will feel safe and comfortable when processing their operations and which is also bilingual, thereby facilitating access to users who prefer either English or Spanish. Its electronic payment method allows many ways of capturing payments, such as through a text message, which consists of doing it from your mobile phone to a local number and you will receive a confirmation of your operation; by mobile application, optimized for any type of device; the platform also allows you to create an embed code to integrate it with your church’s mobile application or website, transfer payments, credit, debit, encrypted cards, supports all cards (Visa, MasterCard, American Express, Discover, JCB, Diner’s Club) or electronic checks with lower transaction fees than the card ones. Having a digital platform that allows you to receive payments from your donors is an unlimited advantage, since it is available 365 days a year, it does not take long to execute as it only takes seconds to carry out financial operations, it does not require the presence of none of those involved since the data is enough to process the voluntary contribution, increases income significantly, because nowadays many people avoid contributing because the organization or church where they are involved does not have electronic payment methods. The time to move forward has come, if you are one of those who had not yet taken into consideration the use of these platforms for the benefit of your organization, do it now, go further, reach more people, expand your ministry. Offer your taxpayers and donors a safe, fast and responsible way to protect their money until they reach the desired destination.
Most businesses are on tiered merchant accounts, which can offer a variety of rates when it comes to the type of transaction and payment method used. Tiered merchant accounts work on something called “Qualification” to determine which rate tier a merchant’s transaction falls into. The “Qualifications” are implemented by the credit card processors. The word “tiered” indicates that the merchant account provider splits all card transactions into separate “tiers” or “buckets.” The most common tiered pricing structure includes three tiers of pricing: Qualified, Mid- Qualified and Non-Qualified . The major credit card networks post a qualification matrix which dictates what interchange category a transaction will post to based on: 1. How the transaction is entered (swiped, keyed in, etc.) 2. What type of card is used (rewards, non-rewards, corporate cards) Once the card is swiped or keyed in, the credit card terminal talks to the cardholder’s bank to identify the card type and then places the transaction into one of the three tiers. It’s easiest to understand this system if we run through an example:* Qualified Rate: 1.79% (regular card, swiped face-to-face transactions) Mid-Qualified Rate: 2.09% (rewards card swiped, keyed in) Non-Qualified Rate: 2.39% (corporate card, ZIP code verification incorrect) Example: A rewards card is swiped at your terminal. You pay a Mid- Qualified 2.09% for that transaction. But if this is an over-the-phone transaction, you will pay the Non-Qualified Rate. * These rates are part of an example and not actual rates Understanding the different pricing models and how each of them could benefit you, as a small business, could definitely be a difficult task. A part of being successful while starting your own business is to know what you are spending your money on; and we want to share all of our knowledge to see you succeed.
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