The Brixton Pound is money that sticks to Brixton, an area in the London Borough of Lambeth, UK. Backed one to one with pound sterling, the Brixton Pound is created to support Brixton businesses and encourage local trade and production. It is the first retail currency that allows both ‘Pay-by-Text’ – a service enabling users to pay simply by sending a message from their cell phones, and ‘Pay-by-Tap’ – a contactless payment service using NFC technology.
People can spend their Brixton Pounds in more than 250 local and independent shops. Several civil servants of Lambeth City Council and businesses employees receive a portion of their salary in this currency. The Lambeth City Council allows local businesses to pay their rates in Brixton Pounds.
Qoin has developed and implemented the online transaction engine for the digital version of the Brixton Pound as well as the IT infrastructure for the ‘Pay by Text’ and ‘Pay-by-Tap’ services.