Two big do-good announcements came from PayPal this week – it’s helping charities and fighting crime.
On Thursday, PayPal announced it processed a record $10.3 billion in donations to charities around the world in 2019. Over $1 billion of that came in the final month of the year.
PayPal said mobile and other digital channels continue to change how donors engage with nonprofit organizations, revealing that 21% of all donations processed by PayPal in 2019 were made through mobile devices.
Another factoid: “PayPal is one of the largest digital donation platforms in the world, supporting more than 600,000 nonprofits with fundraising and powering giving for platforms including Facebook, GoFundMe, Airbnb, and eBay.”
PayPal also announced on Thursday it has joined forces with an organization called Polaris to fight human trafficking.
A newly formed Financial Intelligence Unit is made possible by financial and subject matter support from PayPal. It is designed to “leverage intelligence from the U.S. National Human Trafficking Hotline and other sources to interrupt trafficker cash flows and enable prosecutions for financial crimes including money laundering.”