ALS Association Sets Bar in Fundraising and Creates New Data Security Risks
Averaging over $9 million/ day in donations, the ALS association is opening all channels to receive donations in a historic fashion. Mobile, e-Commerce, Call Centers, Mailing payments are a few of the payment channels used to field all of the donations being sent. The money raised will “Lead the fight to treat and cure ALS through global research and nationwide advocacy while also empowering people with Lou Gehrig's Disease and their families to live fuller lives by providing them with compassionate care and support.” To date, the ALS #icebucketchallenge has raised $88.5 Million dollars.
Where the Money is Being Spent and Future Allocations
Currently, ALS monies are focusing on scientists in the United States, the United Kingdom, France, Canada, Switzerland, Israel and Australia who are working on "effective therapies" for ALS. Lance Slaughter, chief chapter relations and development officer at ALSA, told Fortune that the surge in donations will ensure that the organization will be able to continue funding these grants in their second and third years.
The organization currently has 34 clinics that provide multidisciplinary therapies to ALS patients and had pledged to open 11 more this year prior to the success of the ice bucket challenge, even though such a commitment was a "leap of faith," Slaughter told the news outlet. The recent donations will help continue to fund these clinics.
The Impacts of Fundraising
The ALS #icebucketchallenge should be a positive example to all Not-For-Profit (NFP) Organizations on how to raise money across all payment channels. However, these payment channels need to be secured to guarantee that all money raised will be routed to the cause rather than cyber thieves. Cyber thieves see dollars and weakly secured networks as ripe opportunities. Unfortunately for NFP’s, this means allocating dollars to already poorly funded security budgets.
Securing Your Omni-Channel Environment
Like we’ve seen with fundraising efforts for Hurricane Katrina, the Japanese Tsunami that hit a few years ago, and the Phillipines’ super Typhoon, fraudsters leap at the opportunity to take advantage of unsuspecting donors who want to give their valuable resources to their cause. When donors donate, their guard is down, and that’s why you as a not-for-profit should make every effort to secure your donors sensitive data through every acceptance channel possible. Rather than solutions that secure a single acceptance channel, your goal should be to find a solution that bridges the gaps across these acceptance channels, reducing costs, protecting donors, and getting more resources to the cause.
Why TokenEx is an affordable solution
TokenEx platform: Extracts payment card data from your environment. 100% of that sensitive information is then stored safely and securely off-premise in the TokenEx cloud vault, located in our PCI DSS Level 1 compliant environment.
Savings: The savings from no longer having the audit expenses associated with storing this toxic data will cover the cost of our services, while giving you the added benefit of risk reduction. TokenEx has also partnered with PDEX payment processing gateway to allow At-Cost processing.
Why does a Payment Data Exchange/TokenEx partnership make sense for a Non-profit?
To give you an idea of your cost savings, a current TokenEx/PDEX customer was already on an extremely aggressive rate plan and was paying cost + $0.04. Just cutting that transaction down to $0.02 saved them approximately $29,000/year. These savings allowed this NFP to pay for the TokenEx solution.
Please donate to a wonderful cause at www.alsa.org/fight-als/ice-bucket-challenge.To find out more information on how you can reduce your PCI up to 95% and receive At-Cost Payment Processing, please visit TokenEx.com. Please follow us on Twitter and LinkedIn to stay current on the latest news on data security.