PayPal launched a new fundraising network called Generosity Network. This is a GoFundMe-esque service that allows users to launch fundraising campaigns.
During the pandemic, many individuals along with many companies have lost their feet on the ground. With the new PayPal Generosity Network, interested individuals can raise money and help those in need.
Moreover, the company says the new fundraising network is accessible, easy-to-use, and secure way to raise money for those in need right now.
One of the things that has been an annoyance to using PayPal, that is, the transaction fees, will be waived on the donations. Donations must, however, be made by credit and debit cards, in order for the transaction fees to be waived.
There is one difference between PayPal Generosity Network and GoFundMe. Apparently, the PayPal Generosity Network fundraising campaigns will last up to 30 days. There is also a cap on the total amount of donations you can collect.
In particular, individuals can raise up to $ 20,000. Besides, this service can be used by individuals, companies and organizations, provided they adhere to PayPal’s rules regarding misleading claims.
The PayPal Generosity Network differs from Money Pools, as it allows raising money for anyone
Well, this isn’t the first service from PayPal that allows users to pool money. In fact, there was a service called Money Pools, which was designed to be used between friends and family.
In Money Pools, any family member or any friend can direct your contribution requests. On the other hand, PayPal Generosity Network is more than a public service.
Through the dedicated campaign pages, individuals raising money via this service are required to provide all the details about the planned use of the funds they raise and the availability of images.
This is very important to maintain the integrity of the fundraising process. Because there are many cases of fundraising fraud, in which the funds were not used for their intended purpose.
Meaning, all PayPal Generosity Network fundraising campaigns must adhere to PayPal’s rules and regulations. PayPal will remove campaigns that violate their terms.
These are some good and safe ways to generate money for those in need as many people have been fired. And there are many who are not in a position to pay the bills during the current pandemic scenario.
Those who wish to collaborate for good should know that PayPal’s generosity network is Available today In the United States for new campaigns and donations.