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TheStreet Open House

Online Donation Surge Expected On Giving Tuesday

Tuesday, November 27 th marks the launch of #GivingTuesday ( www.givingtuesday.org), a movement to create a national day of giving. #GivingTuesday is designed to inspire people to take action to give back and help kick off this season of giving. Many will leverage technology to donate to their favorite causes, as online giving has gone mainstream with 65 percent of consumers having contributed online, up from just 4 percent a decade ago (2011 vs. 2001), according to leading online charitable giving resource Network for Good. Capital One Financial Corporation makes it easy for its cardholders to join the #GivingTuesday movement and eliminates one little-known drawback associated with online giving – transaction costs. According to the Capital One Rewards Barometer,* only 25 percent of U.S. rewards cardholders are aware that up to 5 percent is deducted from online credit card donations to cover costs associated with enabling online payments. Capital One covers these costs on customer credit and debit card donations made through its No Hassle Giving Site ( https://www.capitalone.com/give/) so that 100 percent of every donation gets to the charity of choice.

“The holidays are a time when giving is top of mind, and we want to make it easy for our customers to support their favorite charities,“ said Amy Lenander, Vice President of Rewards and Loyalty Programs at Capital One. “Every penny counts, and we’re pleased to maximize our cardholders’ donations by ensuring charities receive 100 percent of every donation on Giving Tuesday and throughout the year.”

Launched in 2008 in partnership with Network for Good, the No Hassle Giving site offers a comprehensive database of more than 1.2 million verified U.S. charities as provided by GuideStar, the leading source of information on U.S. non-profit organizations. Customers can search for the right cause by topic, zip code or organization name. Cardholders can donate dollars as a one-time event or on a recurring basis, and credit card rewards can be donated at a one-to-one value. Donations are tax-deductible; donors receive access to a detailed donation history and summary of taxable donations. Rewards cardholders also earn miles/points when they charge the donation.

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