Partnership creates way to crowdfund for key workers & support local economies

Scottish technology company Miconex has announced a partnership with Collection Pot, bringing to market at a critical time the ability for local communities and social networks to collect money online and then load the funds onto local Town and City MasterCard prepaid cards to spend straightaway in local businesses.

This new proposition, which launches on the 1 May will enable parents to thank teachers for the work they are doing to support our children, it will enable people to collect money for key workers to say thank you for everything they are doing right now.

Miconex developed the first UK Mastercard Town and City Prepaid Card programme in 2015 and has since gone on to work with 40+ UK towns and cities to deliver local currency programmes, becoming specialists in the use of closed-loop, private-label prepaid currencies. The MasterCard prepay programmes are designed to lock in spend for participating businesses, drive footfall, encourage advocacy and stimulate additional economic activity. Over 5,000 national and independent businesses have now registered to accept the gift cards across the network and the programme has delivered over £2M of local spend.

Collection Pot provides an innovative way for an individual to set up an online collection pot for any occasion, birthdays and of course thank you gifts. No more office collections or group collections where someone always forgets to pay! Collection pot will become a programme partner for Miconex’s award winning Town and City gift card programme providing a valuable tool for their 40 plus existing clients as well as new clients who will soon be joining the programme.

Colin Munro, Miconex managing director, said: “Miconex and Collection Pot working together makes so much sense. At times like this we all need to do what we can to help, we need to collaborate, innovate and provide resources to support local communities.

“This new partnership enables people to join forces to support key workers and volunteers as well as providing friends and family with a great gift that shows their support for their local businesses, at a time when local businesses are working hard to adapt and support the community..”

Wendy Carter CEO of Collection Pot, said: “Supporting local businesses at this time is absolutely crucial. Getting together a group of friends or work colleagues ‘virtually’ to create an online collection for a special birthday, job leaver, or simply to say thank you using Collection Pot is so quick and easy.”

Article by Retail Times