PayPal Reports Record of $10.3 Billion in Processed Donations | Financial Buzz

PayPal Reports Record of $10.3 Billion in Processed Donations

PayPal Holdings, Inc. (NASDAQ: PYPL) reported that it has processed a record amount of $10.3 billion in donations made to charities throughout the world in 2019, and more than $1 billion in the month of December alone. The prevalence of mobile, other digital channels and improving internet infrastructure continue to change how donors engage with nonprofit organizations. According to the Company, 21% of all donations processed by PayPal in 2019 were made through mobile devices.

PayPal is currently mobilizing the PayPal to support relief efforts for the bushfires in Australia. To learn more and donate, visit paypal.com/bushfires.

“Our efforts to drive social impact and create value for all of our stakeholders continue to expand. We are continually inspired by the generosity of the expanding PayPal community, which continues to reach new heights,” said Franz Paasche, SVP, Corporate Affairs, PayPal. “As we enter 2020, we remain committed to harnessing the power of our technology and scale to provide new ways for people to give to the causes they care about – and to help charitable organizations raise mission-critical funds that make a difference for communities around the world.”

PayPal claims it supports more than 600,000 nonprofits with fundraising and powering giving for platforms including Facebook, GoFundMe, Airbnb, and eBay. The digital payments Company indicates that it helps to mobilize its community of 300 million consumers and merchants to donate to disaster relief efforts and participate in campaigns with signature partners like GivingTuesday, which organizes an international day of charitable giving each December. On GivingTuesday 2019, PayPal processed $106 million for causes around the world.

“We’re proud to partner with PayPal, whose generous support enabled us to raise funds over the holidays and year-round to help provide comfort and hope to people impacted by disasters and countless other crises. We’re thrilled to celebrate this PayPal milestone with their team,” said Gail McGovern, President and CEO, American Red Cross.