Unique COVID-19 stimulus initiative launched in Jersey
by Startacus Admin
PFS, a leading player in the FinTech ecosystem supports the World's First COVID-19 Stimulus Payments Programme of its Kind in Jersey...
Innovation in the FinTech sector with the news that PFS is partnering with the Government of Jersey via its unique spend local prepaid Mastercard initiative. The initiative is part of the government’s overall £150 million fiscal stimulus package to help alleviate the economic hardship caused by the pandemic. From today onwards, all eligible citizens in Jersey will be posted their own £100 PFS-powered Spend Local Card that they can use in businesses across the island until midnight on October 31st, 2020.
After that date, cardholders are being advised to retain their prepaid card in the event that there could be another stimulus package announced in the future. The PFS solution turned around in just 4 weeks is designed to work with any government in Europe.
Senator John Le Fondré, Chief Minister of Jersey explained: ‘’This scheme will give Islanders a positive way to support local businesses that have worked hard to adapt to the impact of COVID-19 and look after their customers in a safe way. The pandemic caused businesses across all sectors in Jersey to suffer. And while the Government has provided support through a range of measures, this scheme allows Islanders the opportunity to go out and treat themselves by supporting local Island businesses,''
“This innovative solution offers a real alternative to stimulus packages delivered through local tax or benefits systems, giving greater precision for the spending of the funds,” commented Kelly Devine, President, Mastercard UK & Ireland.
‘’We've enjoyed bringing a fresh thinking FinTech solution to life for families in the beautiful Island of Jersey. The government's Island-centric, spend local aspirations aligned perfectly with our payment solutions suite. We look forward to working closely with the Jersey Government to ensure a successful Spend Local Cards programme and possible future financial technology collaborations,’’ said Lee Britton, CCO at PFS (a company of EML).
The Government of Jersey has embarked on an island-wide awareness campaign on how to use the cards and where the funds can be spent. People who cannot leave their home during the pandemic can use the funds with local businesses that accept Mastercard payments over the phone.
Innovation like this is always welcome but especially now, when that innovation will help so many people who have been affected by the covid pandemic.
Interested in reading up on more Covid-19 innovation and initiatives?
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
BT reveals new cohort of innovative startups aiming to help solve sustainability challenges in the manufacturing sector.
London-based SaaS startup OutThink has developed an innovative approach to help companies to visualise risk, target interventions and prevent data breaches.
Participants in Catalyst’s Co-Founders programme offered opportunity to avail of a £10,000 proof of concept grant from Techstart to help validate their business idea.
Atoa announces pre-seed funding for its solution to empower and improve cash flow for independent, small and mid-sized UK retail merchants.
 Tong Gu, Reem Mobassaleh Wyndham and Monik Pham.jpg)
Pact launches its first £30M fund to back early-stage European tech startups using technology for economic inclusion, well-being and climate solutions.
Paris-based startup Immortal Game uses blockchain technology to add a new dimension to the most played board game in the world.
Co-Founders seeking people with innovative ideas and desire to create startups that could change the world for its 2023 programme.
Marketers - want to turn shoppers into customers this Black Friday? Marietta Chatzidiakou, Senior Content Consultant at Digital Ethos shares some tips on how to do just that.
Data from more than 500 companies reveals the core health of SaaS startups and assesses how European companies have performed relative to American counterparts.
The lowdown on Symphony, the startup that'll give you a front row seat to enjoy the finest live performances by some of the most famous orchestras in the world...
Published on: 10th September 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- BT pushes ahead with new sustainable digital solutions through its Green Tech Innovation Platform 1st Dec 2022 BT reveals new cohort of innovative startups aiming to help solve sustainability challenges in the manufacturing sector.
- Catalyst and Techstart offering startup co-founders the chance to win £10k proof of concept grants 30th Nov 2022 Participants in Catalyst’s Co-Founders programme offered opportunity to avail of a £10,000 proof of concept grant from Techstart to help validate their business idea.
- UK fintech Atoa secures $2.2M pre-seed round as it kills Visa and Mastercard fees for businesses 24th Nov 2022 Atoa announces pre-seed funding for its solution to empower and improve cash flow for independent, small and mid-sized UK retail merchants.
- Female-led Pact Launches £30m Seed Fund 24th Nov 2022 Pact launches its first £30M fund to back early-stage European tech startups using technology for economic inclusion, well-being and climate solutions.
