According to the official
statement of
sQuidcard Limited, the
electronic money (
eMoney) next year
it will launch its
sQuid eMoney service in Dundee. This became possible owing to the
partnership with the Scottish National Entitlement
Card (
NEC) and Dundee
City Council.
This technology has already been launched in Manchester and is going to be launched in Scotland and later in India. sQuid is electronic money, stored on a pre-paid, plastic smart card widely used in the UK.
“Our unique eMoney service delivers real value for retailers, with very low costs, much lower than credit and debit cards for sub-£10 transactions. For the consumer, sQuid is available to anyone, and does not require a bank account. It complements the philosophy of the Entitlement Card being open to all, and we are delighted to be launching sQuid in Scotland with NEC and Dundee City Council,” – said Adam Smith, Managing Director of sQuid.
Introduction of sQuid technologies to Indian market is one of the priorities for the company as that market has a huge potential and is not highly developed.
“India is also one of the most under-banked major markets in the world with only 6 bank branches per 1,000 sq kms, according to the World Bank, and less than 31% of the population has access to a bank account. This we believe will make a low cost smart card very attractive to the market,” commented Adam Smith.
