MasterCard converts loyalty points into donations
MasterCard International has announced an agreement with Nietech Corporation that means MasterCard users can convert their accumulated loyalty reward points into cash donations for non-profit organisations and schools of their choice.
The COMMUNITYcash Card loyalty programme automates the fundraising process for charities, schools and other non-profit organisations of the cardholder's choice.
The programme is now available to all MasterCard credit card and debit card issuers in the USA, and is to be marketed through MasterCard Member Relations and the Loyalty Consulting and Rewards Services team of MasterCard Advisors (an affiliate of MasterCard International, providing consultancy, research, outsourcing and information products and services for MasterCard partners).
"COMMUNITYcash turns reward points into charitable dollars for a MasterCard cardholder's chosen non-profit and/or school beneficiaries," said Bill Mathis, senior vice president of member relations for MasterCard International. "The programme associates card issuers with the social and community interests that matter most to their customers."
The technology The programme uses the Nietech Administrative System (NAS) as its payment processing platform to electronically disburse cash payments to designated and qualified 501(c)(3) beneficiaries and schools. Cardholders earn points when making purchases with their enrolled COMMUNITYcash MasterCard, and points can be then redeemed as cash rewards and directed to up to three non-profit organisations or schools of the cardholder's choice.
"Potentially every MasterCard card can become an affinity card for philanthropic fundraising efforts," explained Lanny Byers, global practice leader with MasterCard Advisors' loyalty consulting and rewards service.
"Our technology platform puts to bed 'fundraising fatigue' by electronically linking cardholders with the non-profits and schools they want to support," said Barbara Rambo, CEO for Nietech Corporation. "With COMMUNITYcash, we not only deliver loyalty rewards but we help financial institutions actively serve the personal and community interests of their customers."
Customisable According to Nietech, the COMMUNITYcash programme can be customised for any size of financial institution, and can fit with new or existing loyalty rewards platforms. Participating financial institutions determine their own point accumulation criteria and redemption levels to suit their own cardholders' expectations. The NAS platform also provides data and transaction reporting facilities including a web-based interface to simplify reward account management, and to help ensure complete transaction-detail transparency and accountability for cardholders, card-issuers, beneficiaries and other programme participants.