On Tuesday, Indiegogo announced it now accepts credit cards for fixed funding crowdfunding campaigns. This news comes less than two weeks after the funding portal revealed it supports Apple Pay on the web.
The Indiegogo team stated:
“We know easy and secure payments are important to backers and entrepreneurs alike. By using a credit card, as opposed to Paypal, it’s easier for backers to contribute to a fixed funding campaign on desktop, tablet, or mobile. Fixed Funding and Apple Pay on the Web are just a few examples of how entrepreneurs and backers benefit from the latest innovations on Indiegogo.”
The team noted that they had built a special integration with Stripe that will now allow each backer’s credit card to be charged upon contribution, not at the end of the campaign. The backer’s payment information is secured, and entrepreneurs will know exactly how much funds they’ll receive at the end of the funding round. It was revealed:
“On other platforms, backers’ credit cards get charged at the end of the campaign. Campaigners can lose out on contributions, sometimes totaling thousands of dollars, when backers’ cards get rejected or declined at the end of the campaign. Leakage (i.e. the difference between the total funds shown on a campaign page and what a campaigner actually receives) can cause big headaches for entrepreneurs and makes planning particularly difficult.”
The company added that any draft campaign or anyone currently using InDemand that previously ran a fixed funding campaign may also accept credit card contribution from backers by changing their payment settings on the “Funds” tab in the campaign editor. The support for credit crews is only available for U.S. dollars but will accept additional currencies soon.