Crowdfunding

Published on February 21st, 2017 | by Callib Carver

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IndieGoGo Shifts To New Payment Processor

IndieGoGo announced yesterday that they will be adding more currencies through their credit card processor, Stripe. IndieGoGo has been using Stripe since 2015, and it would seem that this isn’t the only change coming to their payment options.

IndieGoGo, which operates in countries around the world offers people a way to receiving funding for their products, projects, or whatever exactly it is they’re seeking funding for. It also offers these crowd funders and the backers the ability to receiving these funds in a handful of currencies, the primary being the US Dollar (USD), of course, those who don’t use the US Dollar may have to pay a wire transfer fee that will transfer the funds to their native bank.

On February 14 they enabled the Euro for their system, which allowed any campaign that wasn’t already in progress to use the Euro as their funding currency. Then on February 15, they enabled it for campaigns that are currently in progress. “In spring 2017, we’ll enable Stripe for campaigns raising funds in CAD and GBP and AUD. Soon, all currencies that are supported by Indiegogo will use Stripe in order to process contributions and disburse funds.” The team wrote in the announcement.

Earlier this year IndieGoGo started making these moves to a central payment processor, Screen Shot 2017-02-21 at 11.17.43 AMStripe and began phasing Paypal out. Campaigns that were started after January 11 won’t be able to use Paypal as a processor unless they used the EURO or Australian Dollar (AUD). As of February 14, only campaigns that are using the AUD can use Paypal as a processing option, however, the team at IndieGoGo stated that this too would change. “If you have a live campaign raising funds in AUD, please watch your email for further information from us over the next few months.”

They will also be removing FirstGiving as a payment option for non-profits on February 21, for draft or inactive campaigns, and on the 28, it will disappear for active campaigns.

 

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About the Author

Callib Carver is the founder & editor of o7 Magazine. Having spent three years as a student journalist, focusing in photography & video, and working with several small publications, he now writes for his own publication, blog, and is an active freelancer in Washington state.


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One Response to IndieGoGo Shifts To New Payment Processor

  1. Pingback: Indiegogo’s New Payment Shift Gave 'Take This' The Shaft

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