sQuid in the news

 

 

 

"sQuids 'Tap-and-Go' smartcard given the go-ahead by Bolton Council"
11 June, 2007

sQuidcard, the cash replacement smart card operator, has been given the go-ahead by Bolton Council chiefs to incorporate its sQuid e-money purse on Bolton's Smart card, so users will never again have to scramble for change when buying newspapers, coffee or a sandwich.

The Bolton Smart card has been available since last November and gives people living in Bolton access to local services. The new sQuid scheme will allow Bolton residents to load their Bolton Smart card with sQuid's e-money 'purse', enabling them to purchase 'small change' items at premises displaying the sQuid logo. The Council is also working with Manchester Passenger Transport Authority (GMPTE) to have the sQuid-enabled card accepted on buses as well.

Council Leader and Executive Member for Corporate Strategy and Finance Councillor, Cliff Morris, said "Incorporating the e-money facility into the card means that many more services could be offered and the involvement of sQuid opens up an extremely useful new facility for users". For example, future uses could include a school 'purse' for lunches. It's not a credit card, so people would not be running up a debt and can only spend the amount they have credited to it and if a card is lost it can be 'frozen'. It's certainly something I'd use", he added.

"Tap-and-go e-money cards are expected to start to replace cash for small purchases under £10, but solutions from debit and credit card networks are likely to load small transactions with significant fees; which the consumer will probably have to pay for", says Adam Smith, sQuidcard's managing director.

Smith added "Bolton residents are going to be amongst the first in the country to enjoy the benefits of tap-and-go cash without the cost - sQuid will be the most convenient way to spend a quid."

sQuidcard recently announced that its low cost e-money network would never charge retailers more than 1.5% per transaction, which, in many instances, is lower than the cost of handling cash.

sQuid's partnership with Bolton Smart is spearheading a national roll-out planned in 2008/9.