PayPal announced that its charitable giving business grew by 11 percent in 2016, processing USD 7.3 billion in contributions over the year, including more than USD 971 million raised during the holiday season alone. Over 8 million PayPal users in 181 countries contributed more than USD 971 million to 282,053 charities, making 2016 the biggest year for end-of-year donations with PayPal ever, the company said.
Throughout the holidays, PayPal monitored giving behavior on an interactive tracker which uncovered trends on a global scale. The report shows that mobile giving continues to climb. Charitable organizations are not just raising funds through galas, auctions, written appeals and paper checks anymore. With two massive changes underway in the world, namely the digitization of cash and the mass adoption of mobile technology, around 21 percent of gifts were made via a mobile device this holiday season, with 12 percent more gifts coming from a mobile device when compared to 2015.
For 2017, PayPal expects charitable giving to expand into new contexts as technology and social media platforms power new ways for people to support various causes. New means of philanthropy, such as fundraising on behalf of a charity through crowdfunding platforms, are expected to increase in popularity as donors are given more choice in how they give back.
