Mastercard and Prepaid Financial Services (PFS) have partnered with the Government of Jersey to develop the world’s first card-based stimulus scheme.

The scheme, which launches today, will offer eligible citizens in Jersey their own £100 Spend Local Card that they can use in businesses across the island until 31 October.

After that date, cardholders are being advised to retain their prepaid card in the event of a top-up type payment in the future.

The Spend Local card has been designed to give individuals flexibility, meaning that the card can be used in almost any local business in Jersey, including: shops, boutiques and retail outlets; restaurants and cafes; hotels and guest houses; for services like car valeting, personal training, gardening or hairdressing; and to pay for sporting activities.

The targeted approach means cards must be used at physical payment locations on the island, rather for online shopping. In addition, cards will not be supported at businesses in the gambling sector.

This forms part of the government's overall £150 million fiscal stimulus package to help alleviate the economic hardship caused by the pandemic.

Kelly Devine, division president at Mastercard UK and Ireland, said: “The COVID-19 outbreak has had a real impact on businesses, and governments around the world are looking for ways to stimulate their economies - 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.

“Authorities can target where, when and exactly how much can be spent, and as in the case of the Government of Jersey, focus all of the benefit on the Island’s community.”

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