World's First Local e-Curency Allows Users To Pay By SMS
The Brixton Pound is the first local currency that will be available as an e-currency, designed to promote spending in local stores.
The London neighborhood Brixton in the U.K has extended its own local currency the Brixton Pound (B£), to also include the world's first local e-currency (B£e). The B£ e-currency will allow users to pay electronically just by texting when they check out from locally-owned businesses. The concept isn't to replace the national currency, but rather to encourage shoppers to support and buy locally from community shops and stores. The Brixton Pound website explains:
The B£ e-currently (B£e) will enable you to ‘Pay by Text' in any business that accepts B£e, making payments in B£s simpler and more instantaneous. By signing up for the B£e you will also get 10% spending power – so for every £10 you pay in, you will get B£e11 credited to your account.