PayPal has recently launched a brand new fundraising network known as the Generosity Network. This is pretty much a GoFundMe-type of service that will allow its users to launch certain fundraising campaigns. During the current pandemic, there have been a lot of different individuals along with a number of companies that have all lost their own foot on the ground.
New PayPal Feature: Generosity Network
Through PayPal's brand new Generosity Network, certain interested individuals will be able to raise funds so that they can reportedly help those that are in need. Moreover, the company stated that the brand new fundraising network will be easy to use, accessible, as well as a secure way for people to raise funds especially for those taht are in need at the very moment.
A particular thing that has been quite annoying when it comes to PayPal, like the given transaction fees, will actually be waived when it comes to donations. However, the donations will need to be done through the use of either debit or credit cards in order for users to waive the transaction fees.
What is the difference between Generosity Network and GoFundMe?
There is actually one notable difference between GoFundMe and PayPal's new Generosity Network according to an article by Android Headlines, and this is that apparently, the whole fundraising campaigns on the known PayPal Generosity Network will actually be able to last for up to 30 days. There will also be a capping amount when it comes to the total amount of donations that a person can collect.
It's also worth noting that certain individuals will be raise all the way up to $20,000. Besides, the said service can be used by businesses, organizations, and individuals, provided they all abide by PayPal's own rules around the given misleading claims. The official feature can still be found on PayPal's website paypal.com/generosity-network.
PayPal: Money Pool
This is actually not just the first service coming from PayPal that allows users to generate funds. There was also Money Pools which was initially designed to be used between family and friends. Money Pool allows any member of the family or friends to make direct requests looking for contributions. Generosity Network, however, is more of a public-type service.
With these types of dedicated campaign pages, the users will be able to raise funds through the service by providing a lot of details about the whole plan on how the funds will be used and provide certain photos. This is said to be very important when it comes to the sanity of raising funds since there have actually been a number of fraud cases when it comes to fundraising as the funds were not used for the said purpose.
This means that all of the said fundraising campaigns done through the PayPal Generosity Network should be able to abide by the total rules and regulations coming from PayPal. PayPal will be able to remove the campaigns that will violate its terms.
This article is owned by Tech Times
Written by Urian Buenconsejo