Dyer News -“Donate Now, Pay Later” Platform B Generous Officially Launches
Over the past couple of years, the “buy now, pay later” (BNPL) craze has exploded. Companies such as Klarna, Afterpay, and others have popularized the practice of financing purchases over the course of four payments (and without interest) — with Apple soon set to join the fray as well. In turn, a new FinTech is looking to take the concept in a different direction by introducing “Donate Now, Pay Later” in a bid to spur donations to non-profits.
As the DNPL description implies, B Generous will allow users to make donations to nonprofits upfront while financing these contributions with monthly payments. Prospective donors will be able to find the “Donate Now, Pay Later” option on participating organization sites or search non-profits using the service on B Generous’s site. Not only can the platform be used for online donations but can also be utilized to purchase gala tickets, auction items, etc. After making donations with B Generous, donors will receive their tax receipt for the full amount right away. According to the company, donors will be able to use the service for contributions as low as $75 and up to $50,000 in aggregate.
In contrast to what’s been established as the traditional BNPL model — which typically involves four payments made over the course of six weeks — B Generous will offers payment plans ranging from three to nine months. Additionally, no down payment is due at the time of the donation. Nevertheless, B Generous’s service charges no interest or fees for donors. Read More