The latest Expensify Card is bidding on philanthropy by enabling automatic donations to causes that are "aimed at keeping people off the streets, getting hungry kids meals, and fighting climate change."
The social good initiative is tied to the company's corporate credit card. The automatic donation will follow each purchase made on the card, encouraging Expensify to donate 10% of the card's revenue to not-for-profits that fight "[some] of the biggest challenges of our time." A rather philanthropic approach to rewards programs, the automatic donations will be rolled out to "one of five funds most relevant to any given purchase." This, in turn, eases consumer consciousness and allows them to make greener decisions even when they are on the job.
In addition, companies will also be given the choice of enabling Corporate Offsets, donating $2 for every $1,000-worth of approved expenses.
Image Credit: Expensify
Key Themes Behind This Trend
- Automatic Charitable Donations
- Opportunity for companies to incorporate automatic donation features into their corporate credit cards, encouraging social good initiatives.
- Green Consciousness in Purchasing
- Opportunity for businesses to create rewards programs that promote greener decisions and support causes related to the consumer's purchase.
- Corporate Offsets Programs
- Opportunity for companies to implement Corporate Offsets programs that donate a certain percentage of approved expenses to relevant causes.
Where This Applies
- Financial Services
- Financial institutions have the opportunity to develop credit cards with automatic donation features to support social good initiatives and encourage greener purchasing.
- Non-profit Organizations
- Non-profit organizations can benefit from partnerships with businesses that offer corporate credit cards with automatic donation features, increasing financial support for their causes.
- Sustainability
- Businesses focusing on sustainability have the opportunity to collaborate with companies offering Corporate Offsets programs to further their efforts in fighting climate change.
