Nonprofits may quickly discover older Individuals extra cautious about utilizing peer-to-peer (P2P) fee apps resembling Apple Pay, Google Pay, PayPal, Sq. or Venmo for contributions or funds. The AARP has issued steerage about these methods, which switch cash for every little thing from charitable contributions to creating purchases to sending cash to household and buddies.
In response to knowledge from a survey by the Washington, D.C.-based AARP, 71 % of respondents use these fee platforms, with 52 % believing they’ll simply get well cash despatched. In apply, recovering funds is pretty tough.
Age and race/ethnicity variations have been discovered amongst those that say they used P2P fee platforms. Youthful adults, African American/Blacks, and Hispanic/Latinos are extra seemingly than Caucasian/Whites to make use of P2P fee platforms to ship cash to a member of the family or a good friend, whereas older adults and Caucasian/Whites are extra seemingly to make use of it to buy an merchandise via a web-based bidding website.
“We know scammers are already capitalizing on anxieties and fears around coronavirus. With so many people at home, consumers should be alert for possible scams on peer-to-peer payment platforms,” in line with Kathy Stokes, AARP director of Fraud Prevention Applications.
Whereas contributions to nonprofits at the moment don’t rank excessive amongst P2P fee app makes use of, nonprofit digital managers ought to be conscious that older potential audiences will likely be primed to withstand these contribution strategies. For nonprofits, this may imply including reassurances when soliciting donations or fee for charity occasions or merchandise via these apps.
The NORC Heart for Public Affairs Analysis on the College of Chicago carried out the survey on behalf of AARP between Nov. 4-8, 2019. A full copy of the report is accessible right here: https://bit.ly/3bMfVLc