Americans donating to a group of disaster relief organizations can stretch their gifts by using MasterCard, thanks to a pledge from the global payment platform provider. Company officials announced plans to waive interchange fees on relief donations made by American MasterCard holders to select non-profit organizations. Eligible charities include:
- American Red Cross
- Doctors Without Borders
- International Rescue Committee
- Save the Children
- World Vision
In a statement to reporters, MasterCard officials also pledged to donate all revenues generated by contributions made to eligible organizations using credit cards bearing their company's logos through May 15, 2011. The company added its own donation of $250,000 to the mounting support for Japanese relief efforts, while pledging to double funds generated by its employee charitable giving program.
During the Haitian earthquake crisis of 2010, credit card processors endured media criticism for charging interchange fees of up to four percent. According to researchers at Convio, charities now receive roughly one in six pledged dollars online, making an interchange fee amnesty a significant boost to emergency fundraising efforts.