Unlike other UK local ‘currency’ schemes
The principle behind the Pennine Pound framework is to help your everyday spend go much further. By choosing to shop local and support your independent businesses you are also contributing to the health and well-being of the local economy.
More of our money left circulating in the local economy for much longer gives shops, businesses and other organisations the opportunity to invest in jobs, new equipment or ways to attract more customers. The more money available the more local community groups and charities can benefit too.
We don’t print ‘funny’ money. Instead, we use the power of technology to enable your spend to go much further. The Pennine Pound is a prepaid Mastercard payment card accepted anywhere in the world.
This is why we also support local businesses which have an online shopping presence. Consumers can purchase goods and services from anywhere in the world. But, that’s money back into our regional economy.
We make the whole payment process transparent, easy to understand and simple to use. Plus, your information is safe and secure at all times. We use the latest payment card security standards.
Unique Shop-Local Scheme
Any local organisation can join the Pennine Pound Scheme. The organisation then agrees to apply a discount on its products and services. You get the discount when you make any purchase using your Pennine Pound card.
You pay the full price at the time you purchase the good or services. We then calculate how much you’ve saved by using the Pennine Pound card. Each month we then load your accumulated discounts back onto your card. You can transfer the funds into any bank account of your choice using your online account. Or simply keep the amount charged to your Pennine Pound payment card.
For example:
On 12th January you spend £10 with the local butcher using your Pennine Pound debit card. Our agreed discount with the butcher is 10%. The system records the sale. We owe you £1 back.
On the following day you shop in the local bakery. Our agreed discount with the baker is 20%. You spend £20. The system records the sale. We owe you £4 back.
On 28th January we add £5 (£1 + £4) to your account for both transactions carried out in January using your Pennine Pound debit card.
Extra cash in your hand!
