Bristol Pound is happy to announce it has entered into partnership with e-wallet provider Payji Ltd.
The partnership paves the way for the development of a new payment platform for the city, to be called Bristol Pay, operating at scale and creating greater financial, social and environmental impacts than has been possible so far. In the longer term, Bristol Pound and Payji plan to work together to set up similar platforms in other localities, so creating impacts at an even wider level.
It will take some months to develop the new platform, and in the interim, the existing digital and paper Bristol Pounds will operate as normal.
Diana Finch, Managing Director of Bristol Pound CIC explains, “We’ve been thinking for some time about how we could pivot our operating model to create more impact, and the Bristol Pay platform will turn that thinking into reality. By operating at scale, we can create operating surpluses that we can add to the City Funds investment pot, and do our bit to help new social and environmental projects get off the ground. But even more importantly, the platform can host a complementary economy of tokens that will help all Bristolians to rise to the challenge of delivering the One City plan”.
Alex Booth, CEO of Payji Ltd says, “We are passionate about using our payments technology to help local economies. For us, working with the Bristol Pound team offers a great opportunity to develop our thinking and build something truly groundbreaking. With their insights into local economies and our smart technology as an enabler, the future potential of the partnership can be a real catalyst for positive change.”
Bristol Pound and Payji will be working with stakeholders across the city over the coming weeks as they design the first phase of the platform, to be launched later in the year.
Diana Finch adds, “We want the platform to reflect the needs and ideas of as wide a cross section of people as possible. If you would like to engage with us in this early design phase, please register your interest using this form or contact us at [email protected].”