Three Ways Mobile Wallets Could Transform Fundraising
Mobile Wallets are going to dramatically transform how consumers purchase goods and services. Many predict the end of cash and physical credit cards for both point-of-sale and online transactions within the next five years. Not one to shy or fear new technology, I’ll be one of the first to ditch cash completely and transfer my credit cards to a mobile wallet service on my iPhone when it becomes available. We do already have the Google Wallet in beta, and the Isis Wallet, the Visa Wallet, and the PayPal Wallet are in the works, and many more mobile wallet services are likely to launch in 2012 – perhaps even the much-speculated Apple iWallet. Whichever service dominates is a story yet be told, but nonprofits would be wise to familiarize themselves with this technology and be ready to alter and adapt their fundraising campaigns when the opportunity arrives. That said, I don’t know of any wallet service or online fundraising vendor currently building the functionality to donate via wallets, but it’s just a matter of time. The ideas below are merely speculative, but completely possible.
1. Point of Sale Transactions
For location-based nonprofits such as museums, performing arts venues, zoos, health clinics, churches, etc., mobile wallets clearly make sense for processing tickets and goods and services sales:
Current “Donate Now” technology lands donors on a page where they must enter their name, mailing address, email, and credit card number and security code to make a donation. That technology has served the nonprofit sector well, but no doubt in the coming age of mobile wallets that process will seem cumbersome. Imagine using instead a mobile wallet to give where all that needs to be done to make a donation is to first click to “Save to Wallet” and then simply “Tap to Pay” on a smartphone to process the donation:
3. Mobile Transactions
The ability to donate by tapping to “Save to Wallet” on mobile websites makes a lot more sense than a multi-step, mobile-optimized “Donate Now” page and could even replace text-to-give technology. Many mobile donors don’t want to take the time to tap in their contact and credit card information, or in the case of text-to-give, do not want their donation to show up on their mobile phone bill. “Save to Wallet” technology would eliminate both obstacles. That said, imagine sending an urgent call to donate via text message where all the donor has to do is tap twice to give:
Related Links:
Webinar: How Nonprofits Can Successfully Utilize Mobile Technology and Mobile Fundraising
Mobile Technology for Nonprofits LinkedIn Group
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This could get very interesting.
I agree, Mobile Wallets will transform Fundraising in the near future..
I work with a Mobile Wallet Company called WikiPay, Wikipay specializes in helping nonprofits raise funds with our platform in several ways, one of them is unique to WikiPay.
WikiPay offers an Affiliate program were a nonprofit signs up with WikiPay, the nonprofit get’s it’s own unique WikiPay Affiliate link. What this means is anybody that signs up to use WikiPay from the Affiliate URL link, or the nonprofits mobile number or the nonprofits WikiPay account number the nonprofit will make a percentage on all of them to an infinite depth. Everybody that signs up with WikiPay beneath the nonprofit and everybody that subsequently signs up to an infinite depth the nonprofit makes a percentage commission on all of them. This can turn a business expense into a very lucrative profit center.
Btw you can get more info on WikiPay & my contact number by clicking on my name above…
Donating via a YouTube annotation would be just as exciting as through text message– think of being able to watch a nonprofit’s video on your phone and being linked to the Save to Wallet button at the end with a well designed call to action graphic!
AP @ http://www.NonprofitMediaBlog.com
I couldn’t agree more with you that mobile wallets will transform giving. There is an older technology (by older, I mean only two years or so) called Square, which is a credit card reader that attaches to the top of a smartphone. What I like about mobile wallet is the integration with mobile websites, which will hopefully convince organizations of the importance of the mobile website.
I could also envision mobile wallets becoming an integral part of event fundraising at the event, where selling tickets and upselling is critical.
I don’t agree with Debra (sorry Debra) the cost of and clunkiness of hardware to attach to your device is outdated and prohibitive
Embedded software in your device is so much easier.
Mobile wallets will change donation, I agree with apichert above.. yo be able to instantly interact with traditional media weather is be Youtube TV Radio or Print (which is still how most of us see advertising) and easily donate via mobile is the way to go.
Just a FYI that Square is launching a voice-recognition technology for processing payments… and of course a mobile wallet. Until then, I wish my local farmer’s market used Square. I never carry cash!
Reblogged this on kimmblog.