PayPal Teams With Meta to Expand Charitable Giving
PayPal and Meta have joined forces to allow more social media users to give to charity. The partnership, announced Thursday (Sept. 7), expands the PayPal Giving Fund’s relationship with Meta to allow charitable giving on Facebook and Instagram in the U.S., Canada, Australia and the U.K. starting Oct. 31. According to a news release, the partnership is part of PayPal Giving Fund’s mission “to […]
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PayPal and Meta have joined forces to allow more social media users to give to charity.
The partnership, announced Thursday (Sept. 7), expands the PayPal Giving Fund’s relationship with Meta to allow charitable giving on Facebook and Instagram in the U.S., Canada, Australia and the U.K. starting Oct. 31.
According to a news release, the partnership is part of PayPal Giving Fund’s mission “to support charities by enabling them to benefit from new forms of giving.
“Charities will be able to raise money through fundraisers and donation buttons on Facebook and Instagram, and donations will be received by PayPal Giving Fund and granted to benefiting charities in accordance with its policies,” the company added.
The PayPal Giving Fund already received and granted donations to charities via Facebook in the U.K., Canada and Australia. The expansion brings that function to Instagram, and allows for charitable giving on both social media platforms in the U.S. market.
“Charities enrolled in PayPal Giving Fund will be able to receive donations made on Facebook and Instagram more quickly and get additional exposure to millions of donors through the PayPal website and app as well as through other PayPal Giving Fund partners,” the release said. “PayPal Giving Fund will also provide donation activity reports to enrolled charities and issue donation receipts to all donors.”
Last month, the charitable giving platform GoFundMe added PayPal’s Venmo as a payment method to speed up fundraiser donations.
“Sixty-one percent of donors are most likely to hear about causes through word of mouth from their friends and family, and Venmo’s community of nearly 90 million active customers is social by nature,” the company wrote on its blog.
“With Venmo as a payment method, people can quickly, simply and securely donate to the individuals, community members, causes and organizations that matter to them via a trusted payment platform they likely have at the ready on a mobile device.”
Meanwhile, recent PYMNTS Intelligence finds consumers are a fan of financial institutions (FIs) that give to charity.
“Financial Institutions And Customer Loyalty: The Value Of Investing In Your Community,” a PYMNTS and Elan collaboration, found that people who spend the most on their credit cards each month tend to be more involved with their communities and show a greater interest in their FIs’ involvement support of community organizations.
“For these consumers, the interest in an FI’s community involvement is great enough to influence where they keep their accounts,” PYMNTS wrote in June. “It’s an important connection and one that some FIs may overlook or undervalue.”
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