Instagram announced that it will start rolling out a new way to raise money for personal causes. With this new fundraising method, you can raise money for yourself, your small business, a friend or a cause that is important to you.
This kind of fundraising was already available on Facebook. Because your friends and family are already available on Facebook, you have larger access to the audience. Facebook also has the lowest transaction fees which leaves you with larger sums of money for your cause. It starts as soon as you begin the campaign. Facebook announced that they are excited to bring the same tools to Instagram and offer users with the option to raise funds there.
Facebook said that the rollout will begin as a test for personal fundraisers in the US, UK and Ireland. Other countries are eligible to donate.
It’s good to know that since January, people have already raised more than $65 million for COVID-19 and for racial justice. This includes numbers across both the platforms – Instagram and Facebook. In the last 30 days alone, donations on Instagram have doubled in the US. The causes have been varied. People have raised money to buy medical equipment, for Black Lives Matter protesters, rebuilding Black-owned small businesses and educational resources. With the tool being rolled out to Instagram, the fundraising will reach a lot more audience and make it easier to raise the amount for personal causes.
How to create a fundraiser?
To create a fundraiser, tap on the Edit Profile button and then tap on Fundraiser. After that tap on the ‘Raise Money’ button. You will be asked to select a photo and a fundraiser category. You can add details and tell your story to encourage people to donate. After that, you will be asked for information that Stripe will require. Stripe is the payment processor that is used for processing the donations. All the fundraisers go through a review process to make sure that they are for an eligible cause. Once your fundraiser is approved, you can start raising money. Each fundraiser lasts for around 30 days and can be extended for as much time as you want. You must be at least 18 years to be able to create a fundraiser.
You can even choose to keep the information of the person donating ‘hidden’ from the public. Only the person who created the fundraiser can see the username, name on the profile and the amount. The funds go to your account after the fundraiser ends.
It’s a great way to raise the amount you require for the cause you believe in!
Image & Source Credit: Instagram.com