The new Generosity Network service allows users to create a fundraising page and process donations through PayPal's payment platform. According to techCrunch, the company does not intend to take any commission on donations collected through the platform.
Generosity Network seems to be as easy to use as GoFundMe, but unlike the latter, the new service sets a 30-day campaign deadline and a maximum of $20,000 allowed. Individuals, companies and institutions can use the service, provided they adhere to PayPal rules on misleading allegations, incitement to hatred, etc.
PayPal had previously launched a fundraising feature called Money Pools, but it was designed for use among friends and family. Generosity Network, on the other hand, allows campaign pages to be created, where the donor can see additional details that convince him to donate.
Fundraising platforms such as Generosity Network and GoFundMe have become increasingly common, leaving many people unemployed or needing to pay high medical bills.
Generosity Network is currently available in the United States for campaigns and new donations.
Last October, PayPal joined the cryptocurrency market, allowing customers to purchase, sell, and acquire them directly using the U.S. digital payments company's online portfolios.
At the time, the platform indicated its plans to significantly increase the usefulness of cryptocurrencies by making them available as a source of financing for 26 million merchants around the world across its network starting in early 2021.
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