‘World-first’ COVID-19 stimulus payments programme launches

Posted on September 11, 2020 by Jonathan Symcox

PFS

A ‘world-first’ COVID-19 stimulus payments programme has been launched in Jersey. 

London FinTech PFS has partnered with the government of Jersey to provide 105,000 local prepaid Mastercards 

It forms 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 four weeks, is designed to work with any government in Europe. 

‘’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,” stated Senator John Le Fondré, Chief Minister of Jersey.  

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.”  

Lee Britton, CCO at EML-owned PFS, said: “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.” 

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.

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