The PayPal Giving fund, which allows people to give to organizations with a PayPal account, is not “unclaimed,” according to PayPal.
“We’re still working on it, and we’ll be announcing that at some point in the next week,” PayPal cofounder Peter Thiel told the WSJ.
PayPal Giving is an “unsung gem” of the Silicon Valley startup community, Thiel said, adding that the fund was “completely open” to donations.
Thiel and PayPal co-founder Sean Parker recently launched the PayPal Giving Trust, which enables organizations to contribute to charitable causes.
PayPal, which has been working with the Giving Trust to raise funds, announced last week that it will no longer accept donations in exchange for PayPal’s “free gift” policy.
PayPal has a strong track record of providing generous donations, with the company contributing over $1 billion to charity in 2017 alone.
The Giving Trust will continue to help the PayPal community raise money to support its causes, Thiel added.
“There are many ways we can support charity, including making the world a better place, and PayPal is an awesome place to do it,” Thiel said.
PayPal’s announcement comes as more than a dozen prominent charities are weighing whether to join the PayPalGiving fund, and a handful of others have already committed to it.
The PayPalGiving.org website describes the fund as an “emerging global nonprofit” that “provides a platform for nonprofits to share their resources, tools, and strategies.”
The PayPalgiving.org donation site lists three categories of donations: “unusual” contributions, which are available for the first time; “unrelated” donations, which will be automatically applied to other donations; and “unspent” donations.
PayPal is also the sole provider of PayPal Giving funds, Thiel told Bloomberg News.
PayPalgiving is available on the Giving website.
In addition to the PayPal giving fund, PayPal also operates PayPal Giving grants, which allow users to make “unconventional” donations to organizations.
The funds are available to all PayPal users, regardless of their PayPal account status, Thiel revealed.
“The PayPal Giving platform enables you to give back to the people who matter most to you,” PayPal said in a statement.
“Through the PayPalgiving platform, you can also support organizations that do more than simply fundraise for charities.
And for every dollar you donate, PayPal is giving $1 to a charity.
The world is more connected when you give, and you can help spread the wealth around.”
