The credit card networks are waiving fees for Haiti donations
Posted by: Curtis Stevens on January 19th, 2010

According to NY Times, many of the card networks are waiving the credit card processing fees associated with processing a card when making a donation for Haiti relief.  This would allow consumers to donate their funds knowing that almost 100% of their donation should be going to the intended party.  According to a report, banks make as much as $250 million a year on charitable donations, especially rising after a disaster.  The card networks have only waived their fees once before, after the tsunami in 04.  Visa stated that it would not apply Interchange fees through the month of February to a select group of charities.  The names are still being piled.  MasterCard said it would waive donations made to Red Cross, Unicef and a few others.  Amex would be waiving fees until the end of Feb.  Discover said it would also be waiving the fees, but did not disclose the details.  This is great for consumers as well as non charitable organizations.

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