With Giving Tuesday just around the corner, Meta has announced the company’s plans for matching recurring donations on its social media platforms for the holiday season.
The company announced Tuesday (Nov. 1) that, between Nov. 15 and Dec. 31, it will match user donations up to $7 million for the various charities promoted across Meta’s apps, including Instagram and Facebook.
Per the press release: “When you sign up to donate monthly to a nonprofit on Facebook, Meta will match 100% of your donation after you make your second monthly donation. We’ll match up to $100 per donation, $100,000 per nonprofit and up to $7 million in total across all organizations.”
Meta has been matching donation payments for the last 10 years on the Tuesday before Thanksgiving, also known as Giving Tuesday, but has decided to expand that matching to a month-and-a-half-long period.
According to a recent PYMNTS report, “Navigating The New eCommerce Landscape: Modernizing Payments For Marketplaces, Gaming, The Metaverse And Beyond,” companies are looking to adapt payments strategies to the metaverse, and tools like microtransactions and digital payments are gaining popularity.
By opening up the window for digital donations to charities and nonprofit organizations this year, Meta is also expanding the reach of its digital payments capabilities on its platforms.
Meta outlines in its press release data on donation payments on its Facebook and Instagram platforms. Its Facebook fundraisers with the most dollars raised in 2022 were related to Ukraine relief, Ramadan and animal protection.
On Instagram, the fundraisers with the most donations in 2022 were not only directed toward Ukraine relief, but also gun safety and the floods in Pakistan.
Read more: One Year In and Meta’s Mega Bet Meets Stark Reality
Meta recently (Oct. 28) reached a one-year milestone for its jump into decentralized and virtual worlds, or the metaverse. But with last week’s earnings debacle and a stock at multiyear lows, Meta faces a reminder that even the most well-known companies can have mega stumbles.
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