sQuid in the news

Recent news < article
eMoney news < article
sQuid schemes - eMoney < article

sQuid now processing over 1 million transactions per month
3 October 2011

Every transaction counts especially when managing the payments by thousands of school children every day. It’s the uptake in school cashless payments that has driven the meteoric rise in the number of transactions now processed each month by sQuid.

sQuid, the pre-pay, contactless e-money network, has revealed that it processed more than one million payment transactions in September 2011, a 900% increase year on year underpinning the company's rapid growth.

“Our growth this year has been rapid, reflecting the relevance and appeal to our customers of our simple-to-use electronic money service,” says Adam Smith, the company’s Chief Executive. “In addition to retail, transit and loyalty payments, sQuid is finding the mark in education and business campuses, where we expect to see further substantial growth”

With sQuid account holders able to pay using contactless smart cards, online and using biometric ID, sQuid is expected to process 10 million transactions by the end of 2011, making it the largest independent payments network in the UK.

sQuid electronic money is being used in all sorts of ways at schools and universities, for bus journeys, in retail stores and for loyalty. “sQuid is also pioneering new developments including payments for vending, parking, more online services and of course making payments on mobile phones” adds Adam, “We expect to see some exciting developments coming through over the next 12 months”.

Find out more about the Smart Transactions Group.