Online fundraising requires careful consideration, especially when it comes to the payment gateway your organization chooses to power your efforts. There are two heavyweights in this area: Stripe vs. PayPal.
Choosing between these platforms can impact the success and ease of your fundraising campaigns. We’ll dive into the comparisons of Stripe vs. Paypal, exploring features, security measures, and user-friendliness to help you make an informed decision for your nonprofit.
Stripe for Online Fundraising
Stripe is a widely respected global payment gateway that works in many countries and accepts various currencies. When you use Stripe Premium* with GiveWP, you can accept credit card donations without any fees.
One of the key benefits of using the Stripe Payment Element is the ability to offer multiple payment options, such as Cash App, Apple Pay, Google Pay, and more. It’s as simple as toggling on the payment options you wish to offer!
Stripe’s pricing is 2.2% + $0.30 per transaction. They don’t make nonprofit fees publicly available, but you can contact Stripe directly for more information on fees pertaining to your organization.
Stripe Donation Pros
- Stripe is known for being developer-friendly, with a well-documented API and various SDKs, making it easy to integrate.
- Stripe supports transactions in many countries and currencies.
- It is ideal for recurring donations or subscription-based fundraising campaigns.
- Supports Recurring Donations.
Stripe Donation Cons
- The backend interface may be less user-friendly for non-developers.
- Depending on your location, funds might take a few days to transfer to your bank account.
PayPal for Online Donations
PayPal Donations is the easiest way to accept credit cards, debit cards, and donations via a PayPal account. It comes included in the free GiveWP plugin and is the recommended PayPal method for integrating with GiveWP. The best way to use PayPal for fundraising is with the PayPal Donations add-on for GiveWP – it uses the new PayPal API, and there are no additional fees for any donation type using this payment gateway.
Unlike Stripe, PayPal does make its nonprofit pricing public with a fee of 1.99% + $0.49 per transaction.
With PayPal, you can also add Venmo as a payment option. According to a Nielsen survey, Venmo users spend 2x more than non-Venmo users. Since Venmo is already part of PayPal, this gateway is appealing to Venmo customers.
PayPal Donation Pros
- PayPal is widely recognized and trusted by users, which can lead to increased donor confidence.
- Setting up a fundraising campaign with PayPal is straightforward, making it accessible to non-tech-savvy users.
- It offers additional protection for donors and fundraisers against unauthorized transactions.
- Supports Recurring Donations
PayPal Donation Cons
- PayPal’s fees can be relatively higher, especially for international transactions.
- PayPal may impose holds on funds, especially for new accounts or particular transactions.
Stripe vs. PayPal for Online Donations
Choosing a payment gateway for online donations doesn’t have to be a strict Stripe vs. PayPal decision. With GiveWP, you can use both if that suits your organization.
Nonprofits often select Stripe or PayPal based on each platform’s key value:
- Stripe is customizable and developer-friendly, with global reach, subscription support, and strong security.
- PayPal is more widely recognized, has an easy setup, buyer and seller protection, and strong customer support.
When comparing two of the most important aspects of a payment gateway — security and support — Stripe and PayPal are neck-in-neck.
Security and Compliance
Both Stripe and PayPal have robust security measures in place. Each gateway complies with PCI-DSS (Payment Card Industry Data Security Standards), a worldwide standard designed to guarantee the security of payment cards (including debit and credit cards) and their associated cardholder information. These standards apply to all merchants accepting, storing, and transmitting credit card data.
Yes, that means you. And your payment gateway.
Since both Stripe and Paypal ensure secure payment data handling in compliance with PCI-DSS, you don’t have to worry about it.
Service and Support
As a nonprofit organization, ensuring that your forms can always process donations is vital. You don’t want to find yourself stranded if an issue arises with your chosen payment gateway.
While there are some differences in how Stripe and PayPal approach customer service and support, there is no clear winner in this area.
Unlike Stripe, PayPal offers support through a direct inbound customer service hotline. Customer service is available from 6 a.m. to 9 p.m. EST, Monday through Friday. They are open from 7 a.m. to 7 p.m. EST on Saturday and Sunday.
You can also chat with PayPal assistance or leave a message to have an agent contact you.
Though Stripe offers 24/7 support, there is no direct contact number for customer service. Stripe users can contact customer service through email, chat with a human, or request a phone call.
Get the Best of Both Worlds
For many nonprofits, using both Stripe and PayPal is the perfect combo, and we make it a breeze by offering both options. This dual-gateway approach enhances accessibility, making it convenient for supporters to contribute seamlessly. You can broaden your donor base while ensuring a hassle-free and versatile fundraising experience.
Supercharge Your Fundraising with Online Payments
Ready to launch online donations or change your payment gateway? Do it all with GiveWP.
In addition to Stripe and PayPal, GiveWP supports a growing number of premium payment gateway offerings that allow you to accept donations directly on your website via credit card. You can see all of our Premium Payment Gateway Add-ons here.
Amplify your fundraising with a GiveWP Plan
About the Author
