It would be nice if there was a way to replace a normal “peer payment” app with GoodWallet so that I could receive a payment as before but with a percentage for effective giving either prompted to the payer or automatically subtracted from what I receive and given to my chosen charity.
Can you afford to continue to sustain the transaction cost of the donations indefinitely if this became popular? What is the percentage it actually costs you/someone to receive and pass on a payment?
This could be a great use for a GoodWallet API integration!
There are multiple pathways that we can go, once we can’t afford the transaction costs anymore. And I am looking forward for that problem to have ;)
We are currently paying standard PayPal transaction fees, but that will soon change when we implement a more cost effective payment processor. Some options for covering the transaction costs would be:
Allow users to donate a percentage of their payment directly to the GoodWallet and educate/visualize how much would be the minimum to cover fees. That is a common solution of many non for-profits.
Put the money that temporarily sits in someone’s GoodWallet account before being donated into a savings account. This will generate extra cash through interest and could potentially cover fees.
These are just some options, but we will consider options in more detail when we hit that roadblock :)
It would be nice if there was a way to replace a normal “peer payment” app with GoodWallet so that I could receive a payment as before but with a percentage for effective giving either prompted to the payer or automatically subtracted from what I receive and given to my chosen charity.
Can you afford to continue to sustain the transaction cost of the donations indefinitely if this became popular? What is the percentage it actually costs you/someone to receive and pass on a payment?
This could be a great use for a GoodWallet API integration!
There are multiple pathways that we can go, once we can’t afford the transaction costs anymore. And I am looking forward for that problem to have ;)
We are currently paying standard PayPal transaction fees, but that will soon change when we implement a more cost effective payment processor. Some options for covering the transaction costs would be:
Allow users to donate a percentage of their payment directly to the GoodWallet and educate/visualize how much would be the minimum to cover fees. That is a common solution of many non for-profits.
Put the money that temporarily sits in someone’s GoodWallet account before being donated into a savings account. This will generate extra cash through interest and could potentially cover fees.
These are just some options, but we will consider options in more detail when we hit that roadblock :)