PayPal on Thursday announced its new fundraiser service called Generosity Network. The company says the initiative is inspired “by the rising popularity of peer-to-peer crowdfunding accelerated by the global pandemic.” Customers in the US can start fundraising campaigns for up to 30 days and raise a maximum of $20,000.
According to PayPal’s VP of Giving, the “Generosity Network was designed to provide an accessible, easy and secure way for our customers to raise money on behalf of causes, and connect them with millions of PayPal customers who can offer their support this holiday season and beyond.”
Donations made through credit and debit cards are free towards the Generosity Network but PayPal will charge on the long run according to TechCrunch. The service is open to businesses, organizations and individuals as long as it goes in line with PayPal’s terms and conditions. The service is similar to GoFundMe but it does not provide the flexibility it offers since the amount and one can donate and duration is capped.
Donations will be deposited directly to the organizer’s PayPal account so funds can easily be transferred for the intended purpose. PayPal will remove suspicious or fraudulent campaigns and it will also rely on its community to identify such campaigns.