sQuid in the news

"sQuid joins Government initiative"
21 September 2007

Young People's Minister Beverley Hughes has announced a new Government initiative to help disadvantaged young people take part in positive activities of their choice. £14.5m is to be made available to nine Local Authorities around the country in a pilot project that includes pre-paid debit cards.

Bolton is one of the Local Authorities taking part in the scheme where more than 3,500 young people will have access to £1.4m of Government funding. Using its existing 'Bolton Smart' card, the Council is to include a specific e-purse facility provided by sQuidcard, the e-money provider. £35 per month is to be uploaded to the card to be spent on activities which include leisure centres, museums and theatres. In addition, the sQuid purse will further enable Bolton Smart card holders to make tap-and-go payments for newspapers, a cup of coffee and a myriad of other low-value purchases.

Adam Smith, sQuidcard MD, said that the Government's initiative has great potential for Bolton and many other areas throughout the UK. "As a young company championing low cost, inclusive payments systems that can bring the benefits of e-money to everyone, we are delighted to be the engine for the Bolton Smart card and to play an active role in the Government's initiative. It clearly demonstrates that sQuid's low-cost model and the flexibility of our system is making electronic money a very viable alternative to credit and debit cards for retailers and consumers."

Bolton Council will now begin working with young people on developing the card and in identifying the activities and providers to be part of the scheme. sQuid will provide the e-money platform for retailers and other organisations that will take part in the scheme.