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eMoney News

Brixton launches own currency
18 Sep 2009

Organisers hope that the new Brixton pound currency - which was launched on Thursday September 17th - will create a "liquid economy" within the south London area.

Brixton - located in the borough of Lambeth - will deal in B£1, B£5, B£10 and B£20 denominations and there are a number of businesses that have agreed to use this local currency.

The initiative has been developed to try and boost spending in the area and it offers local retailers much-needed support after the last 18 months of financial turmoil on the high street.

Effectively a loyalty programme for the area of Brixton, this development echoes similar schemes across the UK. 

In Bolton and Dundee, residents can use contactless smart cards provided by eMoney network sQuidcard to pay for items in shops and restaurants.

Explaining more details regarding the Brixton pound, the project's manager Tim Nichols told the Daily Telegraph: "The idea is for people to pay local suppliers for goods and services - this includes people like plumbers."

Users can take their local currency to an issuing point at any time and replace it with sterling, he added.