Are you aware of how your givers are donating to your church? Gone are the days of people dropping loose change and dollar bills in the offering plate on Sunday morning. The majority of people are no longer putting pen to paper in order to fill out a check to donate to their church. While people will always want to have the option to give cold hard cash, studies show less and less church members financially support ministries in this way.
In 2020, the number of payments across all transactions in bills and coins dropped 35%. In 2021 only one in six transactions took place with cash. The concern for churches is that they will be left behind as society moves further away from cash. Is your ministry ready for this shift?
So, the question remains. How are most of your members giving? The largest block of your givers is using a credit card. About 50% of all church giving comes from a credit card. This stat shows how important it is for your church to be ready to process donations from credit cards at each giving point.
In the past, there has been a stigma connected to credit cards. That perspective is ancient history. Merchants, who have long held out against cards because of fees, realize that fighting the momentum of credit cards is a lost cause. Consumers use their cards because of convenience. And if you are not ready to accommodate them in this way, you will be missing out on their giving.
The good news is that 8 out of 10 people who give to non-profits have no credit card debt. This means that they are smartly using the cards, and they want to use them to give to your church.
You can be prepared for this growing trend by making sure your church offers a modern digital giving experience. Platforms like Overflow make it easy for your members to give with the payment methods they already use every day.
Another problem facing ministries is not always getting competitive rates on credit card transaction fees. The percentages can add up and diminish the difference that your giving partners intended to make with their donation. When choosing a giving platform, compare transaction rates carefully so more of every gift goes to the mission.
Want to grow generosity in your church? Download the free Year-End Giving Playbook at buildthe.church.
