Crowdfunding Payment Gateway Solutions
Ese Precious
Ese Precious
Fintech writer at AskWallet.io
2 min read 03.05.2022 681
Crowdfunding Payment Gateway Solutions

Crowdfunding Payment Gateway Solutions

Payment Processing
Business
Investing/Trading

Crowdfunding is a way to raise money for your project by asking for freewill contributions from a large number of people (that is, from a crowd) via social networks and the internet. In this system, the owner of the project usually asks people to donate small amounts of money, say at least €/$10 per donor. 

Crowdfunding typically lasts for a fairly short period, such as a few months.

Although crowdfunding is a short-term source of finance, it, nevertheless, can be used to raise money to launch a long-term project, such as a start-up or a small and medium-sized enterprise (SME). There are several multi-million-dollar companies, today, that were initially financed through crowdfunding. Among them is PopSocket, a manufacturer of phone grips, mounts, and cell phone cases. In 2012, the founder of this company, David Barnett, raised $18,591 through Kickstarter. Two years later, he was able to launch the company, and by 2018, it made over $90 million in revenue. Isn't that inspiring? You can try crowdfunding, too. 

The ease and convenience of the payment systems used to accept donations are the key features of good crowdfunding platforms. The amount of time a user spends on the platform could affect their willingness to contribute to the project. If they have to spend almost an hour making a bank transfer, they are unlikely to invest in your project, not minding how much they liked it. Therefore, you need to provide a fast payment system for them. 

In this article, we will cover the modes of payment processing, the types of crowdfunding platforms, the most popular among them, as well as the payment systems they use. 

Ibrahim Busari
Ibrahim Busari
Ese Precious
Ese Precious