This is one of Tonic Magazine’s most popular articles of 2022
The trend toward fewer cash transactions was happening well before COVID-19. In 2018 Surf Lifesaving NZ shared that revenue from street appeals had dropped 90% over a 6-year period because people no longer carried cash. According to the Household Economic Survey in 2019 cash was only used for 13% of all transactions. When the 2021 data is released later this year the Reserve Bank expects the downward trend will have accelerated during the pandemic.
Connecting with donors, and potential donors, through face-to-face opportunities, like fundraising events or street appeals, is important. That ability to share stories of the impact of your work and engage them with your passion is invaluable. That face-to-face chat, and how you treat people when they make a small donation, could be the start of longer-term support. The opportunity will be lost if you don’t offer options for those who are not carrying cash.
Right now, there are added pressures with the pandemic and rising inflation. We still think it’s important that your organisation can accept donations from the people partaking in the 87% of transactions where cash is nowhere to be seen. Here are a few options that might appeal (pun intended).