Major credit card networks on March 14 announced they are waiving interchange fees charities otherwise would pay card issuers on donations cardholders make to provide support for Japanese relief efforts in the wake of the devastation caused by last week’s earthquake and tsunami.
Visa Inc. through April 30 is waiving the interchange on cardholder donations made to such U.S.-based organizations as the American Red Cross, AmeriCares, Habitat for Humanity, Mercy Corps, Oxfam America, Save the Children, U.S. Fund for UNICEF and World Vision. The network also is waiving interchange for cardholder donations to Canada-based charities, including the Canadian Red Cross, CARE Canada, Oxfam Canada, Oxfam-Quebec, Save the Children Canada, UNICEF Canada and World Vision Canada.
Visa also says it will donate any revenue it generates from eligible charitable contributions through April 30 to the Red Cross and will make a philanthropic donation of an undisclosed amount to support relief efforts in Japan.
MasterCard Worldwide through May 15 is waiving the interchange on credit or debit card donations U.S. consumers make to the American Red Cross, AmeriCares, Doctors Without Borders, International Rescue Committee, Save the World and World Vision. MasterCard separately is matching employees’ donations to those charities.
In Canada, MasterCard is waiving all payment card interchange on donations cardholders make to Canada Helps, the Canadian Red Cross, Doctors Without Borders, International Rescue Committee, Save the Children and World Vision.
MasterCard also is making a separate $250,000 corporate donation to relief efforts in Japan.
American Express Co. says it will rebate interchange on credit and charge card contributions to charitable organizations listed on the USAID website for Japanese relief efforts, and it promises to match employee donations to the cause. AmEx separately is contributing $100,000 to the Red Cross and Save the Children.
Discover Financial Services has set up a customized area on its corporate website so credit cardholders may donate funds via credit card to the American Red Cross and World Vision. Discover is waiving interchange on donations through this channel. Cardholders also may earn rewards on funds donated.
JPMorgan Chase & Co. also on March 14 announced it will donate $5 million to Japanese relief efforts, and will match employees’ contributions to The American Red Cross and World Vision.
Holders of Chase’s Sapphire, Ink and Freedom credit cards also “shortly” will be able to donate accumulated rewards points earned on purchases to the relief efforts through the firm’s Ultimate Rewards website, a Chase spokesperson said March 15.
Apple Inc. also is enabling consumers to make credit card-funded contributions via its iTunes online platform to the American Red Cross in increments of $5, $10, $25, $50, $100 and $200. Apple says 100% of contributions gathered via iTunes will go towards Japan’s disaster relief efforts.
The Federal Trade Commission on March 15 issued a warning about online scam charity appeals, many of which offer to distribute credit card donations to charities.
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