Oct 15, 2004
MasterCard International has signed an agreement with Nietech Corporation that will give MasterCard cardholders the ability to convert accumulated rewards points into cash donations for the nonprofits and schools of their choice. The program, known as COMMUNITYcash, is available immediately to all MasterCard credit and debit card issuers in the United States. It will be marketed through MasterCard Member Relations and the loyalty consulting and rewards services team of MasterCard Advisors.
'The COMMUNITYcash card-loyalty program converts reward points into cash donations for the nonprofit and school beneficiaries of the cardholder's choice,' said Bill Mathis, senior vice president, Member Relations, MasterCard International. 'Unlike any other card-loyalty program, COMMUNITYcash weds MasterCard card issuers with the social and community interests that matter most to their customers.'
COMMUNITYcash utilizes the Nietech Administrative System (NAS), to electronically disburse cash payments to designated and qualified 501(c)(3) beneficiaries and schools. Cardholders earn points when making everyday purchases with enrolled COMMUNITYcash MasterCard cards. The accumulated points can be redeemed as cash rewards and directed to up to three nonprofits and/or schools of the cardholder's choice.
NAS also provides an electronic data and transaction reporting capability, including a Web-based interface, to simplify reward account management and ensure complete transaction-detail transparency and accountability for cardholders, card-issuers, beneficiaries and other program participants.
'Nietech's technology platform puts to bed 'fundraising fatigue' by electronically linking cardholders with the nonprofits and schools they want to support,' said Barbara Rambo, CEO, Nietech Corporation.
COMMUNITYcash can be fully customized for any-sized financial institution, and fits with new or existing loyalty rewards platforms. Participating financial institutions determine point accumulation criteria and redemption levels that best suit their cardholders' expectations.
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