"Donate Now, Pay Later" Platform B Generous Officially Launches
B Generous logo

“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.

Commenting on the platform’s launch, B Generous founder and CEO Dominic Kalms stated, “B Generous’ biggest goal is to help nonprofits scale their mission. By using DNPL, nonprofits enjoy larger average donations, higher donor conversion and retention, and more money, faster, and best of all, we put an end to monthly donor cancellations and pledge defaults.”

Kalms went on to note the potential impact the offering could have on donations to charitable organizations, adding, “Last year, Americans donated $484 billion to nonprofits. Yet, about half of all U.S. nonprofits today have less than one month of cash reserves on hand. To put it simply, Americans are incredibly generous, but many nonprofits are still struggling. B Generous fundamentally solves the liquidity problem for nonprofits, without putting pressure on donors’ finances, allowing people to give what they want, not merely what they feel constrained to give.”  

Given the proven appetite for “buy now, pay later” services, B Generous’s idea of adapting the concept for charitable giving seems like a smart one. Of course, given the infrastructure that established BNPL services have, the possibility of one or more of them expanding to incorporate “DNPL” shouldn’t be ruled out — especially as the sector becomes more crowded. Then again, B Generous’s dedicated focus and slightly different model could help them stand out and make them a top choice among nonprofit partners even if other FinTech players were to come aboard. With B Generous’s launch in its early days, we’ll have to wait and see if the company will be able to catch on before others catch up.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...