In 2005 when John Pitzaferro, TransNational Payment's CEO, approached his home church with an offer to give them credit card processing services for less than his costs, he was met with skepticism and disbelief.
Upon analysis, those leaders found that John’s offer would save them $70,000 a year! The experience with how much his home church was being charged from their prior processor weighed heavily on John and the rest of the leadership team at TransNational. They became increasingly concerned that the profits being gleaned from credit card processing fees was taking away from money that could be used in ministry.
In 2008, while at a church service, John heard the story of a man whose business was drilling wells. In the winter months, during the off-season, this man took his business to Africa and drilled wells for free. The story profoundly impacted John. He realized that his well was payment processing.
Every credit card processing company makes their money by charging a small fee on every transaction. John began to think: What if we decided to not charge that fee to ministries and faith based nonprofits?
In 2009, John officially launched My Well Ministry, for churches and faith based non profits to steward their dollars well, allowing them to have greater Kingdom impact.
Since then, hundreds of churches and 501c3 nonprofits across the country have partnered with My Well to put money back into their mission. Collectively, these organizations have saved over $20,000,000, freeing up much needed capital that has been used for ministry and kingdom purposes.
Through these savings we’ve been able to see amazing things like:
And those are only the stories we’ve heard about! For each of these, there are countless others whose lives have been impacted through the organizations partnered with My Well Ministry.
After speaking at the Global Leadership Summit in August of 2017, John Pitzaferro had an increasing passion to do more, and established a vision to save nonprofits $20,000,000 by 2020.
We believe in ministry so much, that we officially became a 501(c)3 nonprofit in the fall of 2017. We wanted to take our commitment to never turning a profit one step further, by ensuring our organization was setup for the benefit of our customers.
Our desire is that this step will allow us to both protect and serve the ministries partnered with us, by showing that while we serve organizations through credit card processing, our vision is not profit.
We strongly believe that as followers of Jesus, we can take part in a grander vision to impact the world for good. Rather than follow the traditional business model of seeing churches and faith based nonprofits as just another market to profit from, we believe that we can change the status quo by offering our services to ministries at cost.
Not content to simply continue on our past trajectory, we’ve invested significant time and resources into new and innovative work to make it easier for organizations to facilitate giving in the digital world, while still leveraging My Well Ministry’s at cost processing.
To get started today with My Well you can sign up here.
What is that endeavor God has given you success in? What is that gift He's placed within you? We believe that the world changes as people leverage their gifts for the benefit of God's kingdom. We all want to be a part of something bigger than ourselves, but the more you try to satisfy that thirst with self interest, the more disillusioned you will become.
What is that step you need to take to shift your direction and make a lasting, kingdom impact?
What is that thing buried in the back of your mind you've been putting off?
What would it look like if you paused long enough to answer the question:
"What is my well?"
As you wrestle with the answers to those questions and begin to take steps toward putting those answers into action, we believe your life will have greater purpose and meaning, and countless others will be impacted by your faith.
While we started this page to tell you more about My Well Ministry, the reality is that the My Well story is your story too. Our hope is that you will be inspired to take steps of faith to pursue those things that God is calling you to do. And it starts by having the courage to answer these questions:
What is your well?
What is God’s grander vision for your life?