Non-profit organizations never have a shortage of challenges they face. Between promoting their cause, staying committed to their core mission and funding their goals – they have to run a tight ship to be successful.
The last thing any non-profit needs is to be concerned that their payment processing company isn’t providing them with the absolute best value their money can buy. Even more so for non-profits than for profit businesses, every cent counts.
So what specific criteria should a non-profit organization look for when choosing a payment processing company?
There are a variety of ways nonprofits can raise funds; online campaigns, on-site at events or product sales. In order for an organization to be able to accept payments conveniently regardless of the event or campaign is to select a processor that will allow them to accept ACH payments, credit card/debit card payments, online and mobile payments. Even if an organization does not need all of these options immediately they very well may need them in the future.
If a processor isn’t talking about security, BEWARE. With the constant evolution of fraud and data breaches, every payment processing company should have fraud front of mind in an effort to best protect their customers. Most non-profits would not be able to withstand the financial damage incurred by a data breach. Key things to pay attention to are processors that help you set up and handle PCI Compliance and support Encryption and Tokenization.
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Nothing would be more devastating than having donors ready to contribute to your cause, and your payment software or hardware has stopped working. Choosing a processor with efficient, 24 hour customer support is key to setting up any organization for success. Technology will have its days, but as long as there is adequate service and support the bottom line should never suffer.
Above all – choosing a processing company that has experience working with other non-profits is essential. They will have a good idea of the unique challenges they face and how to address them from a financial standpoint. They will also have prior knowledge of tax reporting and requirements.
If you are a nonprofit looking for a payment processing company with integrity, contact NTC Texas today.