Charity supporters want and expect greater control over their regular giving, according to a new report by Rapidata into how the payments industry is changing and what this means for the sector.
Rapidata‘s The Changing Face of Payments: what this means for charities and regular giving launches at the IoF Fundraising Convention 2018 on Monday (2 July). It summarises how the UK payments industry is rapidly changing in response to digital as well as Government demands, and the impact on the charity sector, fundraising and regular giving. The findings shows that 74% of Direct Debit payers think they should be able to fully control their payments each month.
Questioning 2,000 users of Direct Debit, it also reveals that almost half of regular donors say they would welcome the option to adjust the level of their donation and to be able to skip a single payment. A third said they would welcome the option to take a payment ‘holiday’ rather than just cancelling.
Rapidata’s research also shows more than four in ten respondents (44%) had previously taken the decision to cancel a Direct Debit payment in order to reduce their monthly outgoings.
The report findings suggest that embracing new payment technologies and adopting a more open attitude to the regularity of donations could help to ensure charitable giving is an attractive option for new supporters, while providing supporters with greater control over payment options could improve the donor experience, build loyalty and reduce attrition.
The latest statistics from across the payments industry on the rise of contactless and new digital payment platforms, the decline of cash, and the growth in Direct Debit, are also included in the report.
Following the report’s launch on 2 July, hard copies will be available free from Rapidata’s stand no.33 in the Convention Expo. The report will also be available as a free download from Rapidata’s site.
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