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| PayPal launches a new fundraising service that may rival GoFundMe |
PayPal announced the launch of a new fundraising service called (Generosity Network) that appears to be able to compete with GoFundMe and is part of PayPal's continued expansion into the financial services industry.
With the new Generosity Network service, users can create donation pages and process donations through the PayPal payment platform. According to TechCrunch, the company does not intend to collect any commissions on the donations raised by the platform.
The vineyard network appears to be as easy to use as GoFundMe. Unlike GoFundMe, the new service defines a period of up to 30 days for the campaign and offers a cap of $ 20,000. Individuals, companies, and organizations can use the service if they adhere to PayPal's guidelines about misleading allegations, incitement to hate, etc.
It should be noted that (PayPal) has already launched the donation feature called "Money Pools" but it is designed for use with friends and family. The generosity network is public and allows creating a campaign page where donors can see more detailed information that will persuade them to donate.
Fundraising platforms like the Vineyard Network and GoFundMe are getting more and more popular because many people are either unemployed or forced to pay high medical bills due to the pandemic.
Generous web services are currently available in the United States for new events and donations.
The platform (PayPal) entered the cryptocurrency market in October last year, allowing customers to use the wallet of a US digital payment company to directly buy, sell and own these currencies. On the World Wide Web.
The platform then said it plans to use it as a funding source for 26 million merchants around the world to purchase transactions across its network from early 2021, greatly improving the usefulness of cryptocurrencies. .