PayPal sees record donations on Giving Tuesday
Nearly 2M customers across 198 markets donated on Giving Tuesday
PayPal announced Wednesday that it processed a record-breaking $185 million in donations worldwide on Giving Tuesday.
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Despite the pandemic and subsequent economic downturn, the donations marked the largest amount raised on the platform since the "global day of giving" emerged in 2012, PayPal said in a statement.
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Nearly 2 million customers across 198 markets donated to causes this year, a 40% increase from the same day in 2019, according to PayPal.
(Paypal)
It was a warm and welcome surprise to the vast amount of U.S. charities that have seen donations dwindle since the beginning of the year as a result of the financial strain felt by people and businesses across the country.
Earlier this year, PayPal provided its customers with a robust Giving platform in an effort to offset the burden on organizations that rely on donations to continue providing essential services to communities around the country.
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The platform allows customers to give back throughout the year by donating with the PayPal Giving Fund, contributing micro-donations or even donating with credit card rewards at online retailers that accept PayPal. Though Paypal's Generosity Network, customers can even create campaigns to raise money for the people, causes and communities themselves.
"Despite the considerable challenges of this year, our customers and communities joined together to give back when it matters most," said Franz Paasche, PayPal's senior vice president of corporate affairs.
PayPal, the largest digital donation platform in the world, supports more than 600,000 nonprofits with fundraising.