PayPal has launched a new fundraising service named Generosity Network as part of its strategy to expand into financial services. The service allows users to set up a fundraising page on the platform and process payments through its network.
The service is similar to what the GoFundMe fundraising page offers. The only difference is that PayPal’s service has limits: Users can collect up to $20,000 for a limited period of 30 days. The service is available for individuals, businesses and organizations so long as they are in line with PayPal’s policies.
During the roll out, PayPal has waived transaction fees for donations made through credit and debit cards. Tech Crunch has however reported, that there is a plan to introduce the charges in the long run.
Read: PayPal to Allow Customers to Transact with Cryptocurrency
PayPal has an almost similar service called Money Pool. However, this is mostly for friends, family and contacts making direct requests for donations.
Generosity Network is open to the public and users can create a whole campaign around it with details and photos for collecting donations. PayPal will remove any fraudulent fundraisers including those that violate its terms. Users can also report the same to PayPal for their action.
GoFundMe pages have not been so popular in Kenya despite the availability. Most users prefer to make their appeals on Social Media and set up M-pesa PayBill Numbers and M-Changa for donations.
Read also: How To Transfer Money Between Your PayPal And M-Pesa Accounts
Popular personalities such as Ndung’u Nyoro also drive up donations with users willing to donate through any platform they provide.
In a nutshell, although PayPal Generosity Network is a great service, Kenyans simply prefer mobile money. It could be rolled out here, but chances are we will hear very little of it.
Email your news TIPS to Editor@kahawatungu.com or WhatsApp +254707482874. You can also find us on Telegram through www.t.me/kahawatungu
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
