Has your church considered taking steps to modernize the way you accept offerings? When you revisit your fundraising strategy, you should include donation apps on your list of must-haves. Here’s why you definitely need to start the conversation about this new technology.
1. Cash and Checks Are Old News
According to the federal reserve, the number of checks paid has been cut in half since 2003.
Checks aren’t alone in their decline; cash is on its way out, too. In 1990, cash and check payments made up 84% of all payments. It’s estimated that by 2018, they will drop to 18%.
Relying on cash and checks to increase your church giving in this environment is a losing game. It’s time to incorporate more advanced technology like donation apps into your fundraising strategy.
2. Mobile Is The Future
Mobile payments in the U.S. are expected to reach $142 billion by 2019, according to Forrester. The mobile takeover is real; the facts back it up:
87% of millennials keep their smartphone by their side at all times.
65% of U.S. smartphone users check their phones within 15 minutes after waking up in the morning.
70% of mobile shoppers will go on to make a mobile purchase.
What is your church doing to make this change work for you? Are you giving parishioners mobile-friendly ways to give? Donation apps are your ticket to getting on board the mobile train.
3. The Cool Kids Are Doing It
In school, doing things simply because the popular kids were doing it wasn’t always the best choice. But when it comes to fundraising, following in the footsteps of the most popular businesses is a must.
How do most businesses accept payments today? By 2018, it is estimated that 82% of payments will be made by credit or debit cards. And the biggest technology companies have taken this one step further by launching mobile payments.
Two of the most successful tech companies around, Apple and Google, have stepped into the mobile payment game. Apple Pay has already enjoyed success in the area. The service makes up more than $2 out of $3 spent on contactless mobile purchases across the three major U.S. card networks.
With such massive companies turning to mobile to receive payments, you should consider making a similar adjustment at your church.
4. Churches Lag Behind
Despite the benefits of accepting offerings via donation apps, most churches still rely on outdated methods. Statistics show that:
86% of church giving still happens via check.
Only 7% of churches in the US offer a way to give via a mobile device.
80% of Americans carry less than $50 cash, and 9% don’t carry any cash at all.
74% of Americans write, at most, one check per month.
If your parishioners aren’t carrying cash and don’t write checks, how are they going to give? You are likely missing out on potential donations by not offering a more up-to-date method.