The Generosity Network inside the new PayPal app.
Today, PayPal introduced the new PayPal app, an all-in-one, personalized app that offers customers the best place to manage their financial lives. Alongside a range of new features and services, the new PayPal app includes new ways for customers to easily support causes and charities they care about, making it easier for people to give within the app and adding new features to the PayPal Generosity Network.
Inspired by the rising popularity of peer-to-peer crowdfunding accelerated by the global pandemic, PayPal introduced the Generosity Network in the US last year to offer customers a way to create customized fundraising campaigns for themselves or others in need. Today, with the launch of the new PayPal app, we’re excited to build on the existing features of the Generosity Network and introduce even more ways for PayPal customers to raise money for causes close to their heart, directly within the new app.
In addition to raising funds for individuals or small businesses with Generosity Network, customers in the US and UK can now also seamlessly raise funds for their favorite charity with Generosity Network for Charity – a new function of the community-based Generosity Network.
This makes it even easier for customers to raise funds for their favorite charity, and ensures the funds are granted correctly. Instead of the donated funds being sent to the customer’s PayPal account like it would with the Generosity Network, funds raised with Generosity Network for Charity will be donated directly to PayPal Giving Fund, which grants the funds to charity.
The US saw a significant increase in giving in 2020 - giving to individuals is estimated to have grown 12.8 percent between 2019 and 2020, to $16.22 billion1, and PayPal saw the successful adoption of the Generosity Network, with customers raising funds for great causes since the launch in 2020. As a result, PayPal is expanding the Generosity Network to the UK and Germany. Now, customers in these countries can find causes to support in their local community or elsewhere, such as small businesses or individuals in need.
Each campaign created on the Generosity Network is amplified to millions who can help others reach their fundraising goals. Each campaign can raise up to $20,000 USD (£20,000 in the UK and €20,000 in Germany) and money donated is deposited directly into the customer's account with PayPal, allowing customers to easily distribute the funds to the intended cause - be it a small business, a friend, or family member.
With the launch of the new PayPal app, for the first time in countries where Generosity Network and Generosity Network for Charity is available, customers can now raise funds and donate to causes on the go and right from the palm of their hand, by creating and discovering campaigns within the new PayPal app, in addition to desktop.
In addition to the Generosity Network, Giving has been centralized in the new PayPal app design. Giving is now located in the Payments hub in the new PayPal app, alongside the ability to send and receive money from friends and family, and where you can pay bills. The new Giving tab houses the Generosity Network where you can create or contribute to a campaign, and where you have the ability to search for and donate to support a charity.
1Source: The Annual Report on Philanthropy for the Year 2020 - Giving USA
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