When it comes to the credit card processing industry, interchange fees are usually considered as the cost of doing business. However, for non-profit organizations, this fee takes a bite directly out of earnings.
These earnings are the vital source of income to facilitate charitable organizations, companies often see which should seek alternative methods like non-profit merchant services / programs.
Non-Profit Merchant Account Program
Simply put, this is a special processing program that is exclusively designed to enable merchants to help and support local and charitable organizations all while receiving low credit card processing rates.
Under these programs, the merchant service provider donates a portion of their net profits earned every month on companies that you (a non-profit organization) refer to the non-profit merchant account service provider.
By opting for a non-profit merchant account program, you can enjoy competitive credit card processing rates which mean big savings on hidden or absorbent service charges. Also, offer convenience to your customers by accepting all major credit and debit cards.
Studies show that accepting credit cards can boost business sales greatly. Consumers purchase and pay more if the businesses allow them to pay through credit cards, since it gives them access to other lines of credit vs. what is in their checking account. Additionally, if you sign up for a non-profit merchant account, you can easily support 1 or multiple charitable organizations by donating money easily.
Advantages of Holding a Non-Profit Merchant Account
Here are benefits that companies can enjoy by availing this service:
- Donations Passed Down Every Month
The donations are passed down to the selected charitable organization of your choosing every month without any hassle. And you know that the money is going to the right place.
- It Helps Build Communities and the Economy
Donations help build strong local communities and stimulate economic growth. By availing this service, merchants can play their role and contribute to the society’s development and building a strong nation.
- Work For a Noble Cause- Feel Good Factor
When you work for a noble cause, it shows that you are not just working towards the development of your business but also striving hard to improve lives of others in some way or the other. It shows that your company is socially responsible. And helping a worthy cause is definitely a great way to feel good.
- Support Multiple Charities
If you are interested in supporting local foundations and multiple charities, then choose a merchant account service provider that can pass down donations to multiple organizations.
In nut shell, non-profit merchant service is a win-win. You not only get a chance to boost your business sales by offering your customers to make credit card payments but simultaneously you know that you are playing your part in contributing to the society by donating money to local charitable organizations that need monetary support from merchants.
As a merchant, this not only makes you feel good but you know that your business is living by every great business’s philosophy and that is ‘being socially responsible’.