PayPal Reveals Eight Million People Gave Globally To Charities Over The Holidays
(3BL Media/Justmeans) – Over eight million people in 181 countries contributed over $971 million to 282,053 charities during this holiday season, says Paypal, which has reported an 11 percent growth in charitable giving in 2016 —making 2016 the biggest year for end-of-year donations with PayPal ever. The top four most giving countries are the US at the top of the list, followed by Canada, the UK and Germany, consecutively. Throughout the holidays PayPal monitored giving behavior on an interactive tracker which uncovered giving trends on a global scale. The largest single gift of this period was more than $230,000, with the average contribution being $93 and just above the year-long average of $89.
PayPal’s mission is about making financial services easily and readily available for people worldwide. These recent statistics show the power of a global payment platform to create an international network that allows people to support communities and the causes they’re most passionate about. Globally, things are transforming and two big changes are underway: the digitization of cash and the mass adoption of mobile technology, where mobile giving continues to grow.
These findings reveal that many consumers save larger gifts for end-of-year contributions, and the hundreds of thousands of $1 and $5 gifts resulted in millions of dollars for charitable organisations over the festive period, showing that no donation is too small to make an impact. Using digital platforms like PayPal for smaller contributions can also be more cost-effective for the benefitting charities to accept. According to a recent study, digital donations in smaller amounts like $50 are 14 percent cheaper than paper cheques for a charity to process.
Interestingly, PayPal also found that giving peaks at the last minute, and that more donations were processed on 31 December than any other day in 2016, as consumers contributed over $77 million to thousands of charities globally on this day. While the last week of the year saw a huge spike in charitable contributions, #GivingTuesday (November 29) is ranked as the third highest day for donations as the global movement continues to expand year over year. These days, charitable organisations are not just raising funds through events, auctions and fundraising appeals. Mobile giving is a real game-changer here. This holiday season, 21 percent of gifts were made via a mobile device, compared to 12 percent in 2015.
Looking to 2017, PayPal expects charitable giving to expand into new contexts as technology and social media platforms power new and innovative ways for people to support the causes they care about. While traditional giving will continue to result in billions of dollars for charitable organisations each year, there will be a new means of philanthropy, such as fundraising on behalf of a charity through crowdfunding platforms; this is forecasted to increase in popularity, as donors are given more choice in how they give back.
Photo Credit: 3BL Media/Paypal