Mastercard and Revolut join forces with Save the Children to launch campaign to repair schools destroyed by Cyclone IdaiNovember 20, 2019 | London | By Suman Hughes
To mark Universal Children’s Day, Revolut and Mastercard have joined forces to raise money that will support Save the Children’s work to rebuild and resource four schools in Mozambique destroyed by Cyclone Idai
When Cyclone Idai hit Mozambique in March, children were thrown into a fight for their lives. Schools were badly damaged and children’s learning was put on hold. Without funding, schools can’t be rebuilt, and thousands of children won’t start the school year in a classroom fit to learn in.
During the campaign, all Revolut customers are able to round up their spare change and donate the difference, set up a recurring payment, or give a one-off amount via the Revolut Donations feature. In addition, Revolut and Mastercard will match every £1 donated by Revolut Mastercard users up to a total of £80,000, with an aim to fundraise £160,000 in total for the cause.
One hundred percent of the amount donated by customers goes to charity, with Revolut and Mastercard charging no fees and taking no cut from donations. There is no minimum donation amount and the feature can be turned on and off by customers at any time.
The reconstruction and resourcing of four schools will ensure that more than 2,000 boys and girls can resume their education and learn in a safe a protective environment. This will cover school infrastructure, sanitation facilities, teaching and learning materials, psychosocial support, disaster response plans for any potential future natural disasters.
Marsel Nikaj, Product Owner for Vaults & Donations at Revolut said: “We launched our Donations feature in July to make charitable donations simple, flexible and transparent. We hope that our partnership with Save the Children and Mastercard will help children affected by Cyclone Idai get the important education they deserve.”
Edoardo Volta, Head of Fintech Partnerships at Mastercard UK & Ireland said “We are delighted to be partnering with Revolut and Save the Children to support such a deserving cause. Education is the passport to a better future and by raising these funds we hope to be able to offer that to the children affected by Cyclone Idai.”
Samira Abu-Helil, Senior Programme Manager, Save the Children: “The gift of education is one of the best things you can offer a child. Education gives children a future full of possibility, hope and opportunity. And a safe environment in which a child can get that education is so important. Learning outside under a tree or in a classroom with crumbling walls is not safe and every child has the right to go to school and feel safe so they can focus on being a child, learning and playing with their friends.”
Revolut was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks.
While the fintech initially drew in customers by allowing them to spend and transfer money abroad with the interbank exchange rate, the company has since attracted over 5 million customers in Europe with its spending overviews, budgeting controls, savings features and cryptocurrency exchange. To date, Revolut has raised approximately $340 million in funding, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
ABOUT SAVE THE CHILDREN
Save the Children stand side by side with children in the toughest places to be a child. We do whatever it takes to make sure they survive, get protection when they’re in danger, and have the chance to learn. Together, we fight for children every single day. Because every child should be able to make their mark on their world, and help to build a better future.