SAN FRANCISCO, July 27, 2021 /PRNewswire/ -- Fast, the world's fastest online login and headless checkout experience, today launched Fast Donate, becoming the first company to waive all credit card processing fees for online donations to non-profit organizations. With Fast Donate, donors can give to charities faster, safer and easier online using Fast Checkout, while nonprofits can now use the funds entirely for their projects, instead of reserving portions for payment processing fees.
Nearly half of all worldwide donors in 2020 preferred to give online, paying with credit or debit card. Yet online contributions are often diluted by various fees that can be upwards of 6%, covered either by the donor or the nonprofit. Fast Donate eliminates this obstacle, increasing overall donations, and ensuring every penny is in the hands of those who would benefit most. In 2020 alone, roughly $64 million of the $3.2 billion total online donations in the US went directly to banks and credit card companies through processing fees.
"Nonprofits shouldn't have to worry whether payment processing fees cut into their funding. Following a difficult year, now more than ever it's critical for nonprofits to be able to keep 100% of their donations, instead of having millions of dollars siphoned off by banks and credit card companies," said Fast CEO and Co-Founder Domm Holland. "Fast made frictionless checkout a reality for consumers, and we're proud to bring this experience to charities that could benefit the most from Fast Donate."
Fast Donate uses the same technology that powers the company's signature one-click checkout, enabling instant donations without long-form fields. Now charities can deliver a seamless, trustworthy experience that occurs in a fraction of the time it takes for a traditional transaction. The company also enables headless checkout, allowing contributors to make one-click donations from anywhere on the internet.
Fast Donate is available in the U.S., the U.K., Canada, Australia, and New Zealand and will be available to all officially registered charities.
To learn more about Fast Donate, visit fast.co/fastdonate.