Charityvest Implements PayPal Grant Payments to Enable Electronic Payments to Charities

Charityvest, a provider of modern charitable giving accounts, or donor-advised funds (DAFs), announced today the company has implemented the PayPal Grant Payments product, enabling it to deliver grants electronically to over 200,000 charities. This capability is available now for all existing and future Charityvest DAFs. For Charityvest donors, it provides faster and easier delivery of grant funds to supported charities, improving the giving experience in the process.

PayPal Grant Payments allows donor-advised fund sponsors like Charityvest to deliver grants quickly and electronically to charities. For most DAFs, the process for distributing grants previously involved manually cutting and sending paper checks through the mail. With this partnership, DAFs can spend less time on administrative tasks and charities can enjoy faster payments.

“Charitable giving is an industry that is only beginning to reap the benefits of financial technology. Today, we all expect financial transactions to be fast, digital, and efficient – it shouldn’t be any different when you’re moving money to a charity,” said Stephen Kump, CEO of Charityvest. “By enabling grants to be delivered to charities electronically using PayPal Grant Payments, we’re able to benefit from their network’s scale and technology, and  bring charitable giving into the 21st century.”

“In 2022, we introduced PayPal Grant Payments to offer grantmakers and charities new ways to efficiently, securely and easily send and receive grants,” said Oktay Dogramaci, VP of Giving at PayPal. “Through PayPal Grant Payments, Charityvest is now able to more easily focus on its mission, save time and resources, and seamlessly deliver grants digitally to more than 200,000 charities, improving the charitable giving experience and providing more transparency to charities.”

This announcement comes on the heels of strong momentum for Charityvest, including record contribution growth to $48 million in 2022, an increase of 93%, as well as new features including low-fee ETF investments. With the addition of PayPal Grant Payments, Charityvest makes modern charitable giving accounts more accessible to encourage more purposeful giving everywhere.

Charities can begin receiving grants electronically from Charityvest and other participating DAF sponsors by visiting www.paypal.com/charities.