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Friday, January 15, 2010

wow

(don't see any master card news YET though....)


As Wallets Open For Haiti, Credit Card Companies Take A Big Cut

Laura Bassett

Update at 3:13 PM: American Express announced today that processing fees for any donations made to the 65 charities listed on this website between January 12 and the end of February will be rebated back to those charities.

Update at 6:44 PM: Visa announced this evening that it, too, will not apply fees to charitable donations related to the crisis in Haiti through February.

As a massive human tragedy unfolds in Haiti, relief organizations are soliciting credit-card donations through their hotlines and websites. About 97 percent of these donations will actually make it to the designated organizations -- but the other 3 percent will be skimmed off by banks and credit card companies to cover their "transaction costs."...........


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