Facebook Inc has eliminated transaction fees on donations made to non-profit organizations on its platform, Chief Executive Mark Zuckerberg said. Facebook had been charging a 5 percent transaction fee on donations made to non-profits via its website or app. Other online fund-raising sites charge transaction fees on donations of about 6-8 percent. The social network is also setting up a $50 million per year Facebook Donations Fund to match givings on its platform to some causes, such as natural disaster relief. In February, a petition signed by 42,000 people demanded that Facebook waive the fees it charges a charity for raising $1.5 million on its website.

Source: Pakistan Today November 30, 2017 06:56 UTC