Improved cash flow, faster fulfilment
Unlike postal contributions or verbal pledges promised by phone, donations made with Visa are immediate and there’s no risk of bad cheques. Your non-profit can also potentially rein in costs that come from having staff spend time opening envelopes, sorting cheques and processing donations manually. A 2012 study found that 69% of US businesses surveyed that accept payment cards saw improvement in some area of their cash management process1.
Another advantage offered by Visa acceptance is the ability to set up recurring donations, which can improve retention and provide a more predictable, reliable fundraising stream. Your acquiring bank can enrol you in Visa Account Updater (VAU), a service that enables the secure electronic exchange of updated account information automatically when a donor’s card information changes.
1 Source: 2012 Visa Small Business Cash Management Survey
Learn about Visa Account Updater