Big Issue sellers take plastic in cash revolution
READERS of The Big Issue will soon be able to buy a copy without using cash.
Sellers of the magazine, which allows the homeless to earn an income, will accept bank card payments after a successful trial.
Those taking part in a pilot scheme earlier this year said a quarter of their £2.50-a-time sales were on plastic.
Some sellers found 80 per cent of their buyers did not use cash following a partnership by The Big Issue and financial technology firm iZettle. It saw them equipped with card readers.
All of them will now be given the technology.
Russell Blackman, managing director of The Big Issue, said: “Big Issue vendors are microentrepreneurs, effectively running their own small businesses.
“It has been our intention to provide vendors with the opportunity to cater for customers’ needs and increase their ability to earn a legitimate income.
“The Big Issue looks forward to rolling the initiative out nationally, in an effort to improve levels of financial inclusion for vendors.They often live lives that are blighted by poverty and have difficulty accessing mainstream financial services and products typically offered by retail banks.” Jim Hannah, 59, who sells the magazine in Norwich, said: “I am really pleased to be able to offer card payments to my lovely customers, which I am now able to do thanks to the Big Issue team and iZettle.
“Before all this started I had no ID, no bank account and a rubbish phone and now I have a decent smartphone, a passport, a bank account and a card reader.
“I now feel ready for a cashless future.”
Mike Hall, 29, who sells the magazine at Bristol Temple Meads rail station, said: “Since I started using my iZettle card reader, I have seen my sales increase by a third, which is incredible.
“It has been really important in attracting more customers to buy copies from me and I am so pleased to be able to offer contactless.”
Edward Hallett, managing director of iZettle UK, said: “It is fantastic to give even more sellers access to the tools they need to stay on top of consumer trends and manage in an increasingly cashless society.”