As non-profit news organizations increasingly strive toward sustainability and finding ways to think “digital first,” the trend towards mobile digital wallets could be an effective way to raise funds according to an article published on Mashable.com Tuesday.
Companies such as Google, PayPal, Visa, and American Express have created platforms for mobile digital wallets, or e-wallets that allow users to make quick and secure electronic transactions on their smartphones according to the article.
The article noted that potential donors who want to contribute to a nonprofit through its website might have reservations about entering their personal information or receiving follow-up calls that text-to-give campaigns often entail. That’s where mobile digital wallets would come in.
“The luxury of mobile digital wallets is that they contain all of that information in one protected place, which eliminates any multistep process that may deter prospective charitable gifts,” the article stated.
As our team puts the final touches on our business recommendations for the Chicago Reporter, it seems like partnering with a mobile digital wallet provider could be one possible way to boost a news organization’s fundraising efforts. However it would not alone serve the needs of the Reporter’s current and potential donors, many of whom are not heavy smartphone users.
Until the day real wallets cease to exist, it seems that mobile digital wallets only appeal to a specific type of donor who is likely much more reliant on their mobile phone and is a lot more comfortable with e-commerce. For now news organizations should have a thorough understanding of how their audience prefers to donate and provide them with convenient and safe ways to donate.