Wednesday, July 17, 2024
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Venmo Adds in-app Charitable Donations Feature

The users of Venmo can browse through Charitable Donations categories to search for verified local communities, for example, education, disaster, relief, pets, animals, etc. The donors can give charity to any community of their choice using their credit or debit card, Venmo balance, or any other linked bank account. They can also encourage others, like their friends and family, by sharing the donation they have given with them. The update will let customers easily track to whom and how much money they send. It also allows you to request or pay multi-payments at a time. Venmo is a service provider for peer-to-peer money transactions powered by PayPal. For safe, fast, and other social payments between individuals became possible through the Venmo app since 2009.

Venmo aims to make peer-to-peer payment transactions more convenient. Venmo users can use this new donation feature by tapping on the search bar. And then, selecting the ‘‘Make a donation” option at the top. Another option of ‘‘ Find Charity” on the page enables the user to search for Charitable Donations. They will tap the “Donate” button if they are ready to donate. After entering the amount and a message, they can share this donation with their friends to inspire them to donate too.

Moreover, PayPal declared that charitable organizations would be able to create their profiles on Venmo. Through this, they can connect beyond the PayPal community with other 90 million users and customers of Venmo using the new in-app feature. A more social Venmo app will make sense, as the company noted 61% of the donors are likely to know more about the charities through word of mouth with family and friends.

This Venmo feature launched by PayPal named PayPal Giving Fund on their app in 2016. This feature connected users to charities with verified identities for charities. On behalf of the users, this fund collects the charities to distribute to the related receiver transparently. The donors also receive receipts for their donations to charities. Until now, this feature will only enable peer-to-peer payments. But it will also be available for small sellers and their businesses in the future.

The transaction fees will be at 1.9% + $0.10, excluding other monthly or setup charges on Venmo Charity profiles.

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