When the time comes for your charity to choose its non-profit merchant account provider, you’ll want to set some criteria. The last thing you want is to end up with a provider that takes a huge cut of your donations. After all, those donations help your cause move forward and assist in getting the word out. So the question is, how should you choose a merchant account provider for your non-profit?
We’ve come up with several criteria that are crucial in your decision. Total-Apps has been working with non-profits for quite some time, and this is only set to ramp up with our launch of Video Checkout for Facebook fundraising. We’ve come across the needs and requests from non-profits and have come up with 3 of the most important criteria you should focus on when making your decision.
Know Your Charity
You’ve probably heard of the process of “KYC” or “Know Your Customer.” We firmly believe the success of all of our clients comes from our account engineers understanding the structure and model of every client. The same goes for your charity. You need to find a provider that understands your business, the importance of donations, and is willing to go up to bat for you to get you the lowest fee possible.
You’ve heard it before and you’ll continue to hear it. Some providers are just too shady. Hidden fees. Early termination fees. Hidden costs. Locked contracts. What a mess! You should find a provider that is up front with any fees, especially given your non-profit business model.
Providers That Give Back
Our final criteria we’d like to discuss is finding a provider that gives back. This can be done in a few different ways. Some providers choose to donate part of the revenue to a specific non-profit. Some allow donors to pay for the processing fees. Other merchant account providers, like Total Apps, allow employees to choose a charity to donate to and donate a set amount on their behalf. Whatever method, giving back needs to part of their DNA as it is in yours.
Have you gone with a certain non-profit merchant account provider you are happy with? What sets them apart? Whatever your experience is, we’d love to hear below. Comment below and tell us how you chose your provider.