Environmental campaign organization Greenpeace has announced it will start accepting bitcoin donations in its USA division via a partnership with payment processor BitPay.
The move offers cost savings for the organisation, as well as the possibility of tapping into new sources of funds.
Greenpeace does not accept donations from corporations or governments, instead, the nonprofit relies on individual donations. This practice comes with a drawback, however, since the cost of many, relatively small, transactions can easily add up.
This largely because credit card companies and other traditional payment providers usually charge nonprofits the same as commercial organisations, about 3–4% per transaction.
Bitcoin, though, offers significant savings for charities by doing away with these fees.
Bitcoin’s cost benefit
BitPay non-profit account manager Elizabeth Ploshay said the company strives to bring bitcoin to nonprofits like Greenpeace.
“For each bitcoin donation, Greenpeace gets 100% of what is being donated, increasing the amount of each donation received,” she said.