Many of us have faced quite some of the situations where it has been a general requirement of donations as being a part of being human mankind. There have been many of the situations or natural calamities that cannot be recovered by any means or by providing any aid. Still being a responsible citizen of any nation, some of the people take such initiatives that can be taken into account in order to provide the minimum amount of support from all of us witnessing such situations.
In most of the cases, there are always some of the people having the goodwill and wishful mind who try to help such people under such circumstances. Generally what they do is that they ask for donations from all the responsible and fellow citizens who can provide a minimum amount for this kind of purpose.
In order to accept the funds, it was really a tough call for all those non-profit organizations as in most of the cases, it was really hard for them to reach all the people eager to help those who need it. But in this new generation of technology, this problem has been taken care of by the online transactional applications. People can pay any amount to these non-profit organizations without any issue or delay.
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As the problem of accepting the funds from the people was taken care of, the implementation of this online transactional application has included something new and that is the transactional fee for any of the transactions maintained in here. On top of that, while using any of the online transactional applications, there are some of the limitations while accepting or sending an amount of money to any of the persons using these applications.
So, while raising the funds, most of the non-profit organizations also face some of the similar issues while accepting such a huge amount of money to receive orders from numerous people around the globe. In such cases what happens is that as the organizations are accepting such huge requests, depending on that the organizations also need to pay an amount in as the limit is being reached.
Now, being a non-profit organization, there is no such percentage of the money that gets into their hands for their personal purpose. On the other hand, whatever the donations they are getting from the people cannot be taken as the fee as something like that would become quite inhumane. So, to fill up the gaps the members of such organizations pay from their account so that the donations don’t get tampered in any case. That’s why using an online application is also a big concern for such non-profit organizations.
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Venmo: Possibility Is Here
Now, as the other online applications are providing such a transaction fee against such a noble cause, Venmo is one application that has decided to step up to this occasion in order to support such non-profitable organizations with some of their own features.
Now, before we move into some of the brief reasons in order to understand how Venmo can be much easier, it is better to take a look at how the transactions are made through Venmo which would be much easier for the users to understand the reason behind using it for such purpose.
Venmo is one of the best online transactional applications to be used in recent times. After a great independent start, PayPal has taken the responsibility of this application along with the support and the security to the transactions made using the Venmo.
Venmo is one application that can be used for some of the very small transactions such as $50 or $60 United States Dollar which is really helpful for those people who don’t really use to make any big amount of transactions. Venmo is basically a P2P online transactional application that can be used to have transactions with any person in our contacts. Generally, the application goes really well while paying your friends or relatives. Now, how does Venmo actually make it to work?
Now, while using the Venmo, like any other online transactional application, the user needs to connect their bank account to the application itself so that the transactions can be made directly through the bank or if the user wishes then the money can even be taken into the Venmo wallet to be used. To have better accountability the user can also activate Venmo card to go cashless. The user can even have the Venmo direct deposit feature for bank transfers as well.
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Venmo: User Availability
There are many online transactional applications, where in order to use them the user must fit into their minimum criteria of using the application. But for Venmo, there is no such thing as the criteria as people of any age having a bank account can use this application and open a user account here.
It has been seen that in the United States of America, 80% of the people are using Venmo and PayPal together as their primary online transactional application. Now, while pulling off such a difficult job of providing aid by accepting donations from people, these factors are looked into before taking such a huge decision. As more people will be able to pay, more aid can be forwarded to such people who need it.
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Venmo: Goes Fine With Fundraisers
Now, it is time for us to look at how Venmo can be the best possible option for the fundraisers or the no-profit organizations as the primary option to choose to accept the fund from most of the people. The first thing that we should consider is the user availability that we have already discussed in the previous point. In an online financial statistic, it has been seen that 80% of the users in the United States of America are using both the Venmo and PayPal for their primary transactions.
On top of that, 50% of the Venmo users are millennials like within the age of 18 to 32, from where such funds can be raised most. Now, in most cases what happens is that the fundraiser makes the amount for a user in such a minimum range that can be afforded by anyone. So, the chemistry goes really well as Venmo can be used for such a minimum transaction amount.
Now, to pay such a minimal amount, the user doesn’t have to create a new transaction. Whatever the money is pending or what has been sent earlier can be used again for this purpose where the user doesn’t feel spending any such money from their bank account. Even for the direct deposit cases, Venmo can be used.
So, these are some of the reasons and the morality behind using the Venmo for non-profit organizations or fundraisers. Hope the article will help our readers to better understand the situations and the options available for them.