sQuid®

sQuid is a secure, end-to-end digital payments network that is fast becoming the alternative to cash or debit and credit cards for purchasing small value items. This is a market forecast to grow rapidly, replacing some of the £200 billion sub-£10 cash transactions made each year in the UK.

sQuid smartcards are, effectively, digital wallets that access the sQuid payments network and integrate with a wide variety of POS tills and standard RFID or NFC card readers. sQuid also uses biometrics for some campuses, for instance in the education sector. sQuid® delivers a significantly faster transaction than chip and pin and has the flexibility to deliver multiple purses in one wallet, to enable multi-scheme use and retail loyalty.

sQuid currently processes 2 million e-money transactions a month on campuses and in retail locations across the UK. Paying with sQuid is quick and simple and card holders can top-up and manage their accounts online. Transactions are fast, secure, and their sQuid account enables users to track their transactions and manage their money online.

In education, sQuid delivers best-of-breed payments to school and university campuses with efficient settlement, integration with the back office and e-commerce shops, all combined with a great user experience. sQuid works with major equipment and service suppliers to deliver fast, flexible and secure payments solutions. 

In 2012 sQuid and ACT launched the first e-money 'pay as you go' wallets on transit smart cards for operators of UK ITSO ticketing schemes and in 2013 will launch mobile payments and ramp up international expansion in developing markets, where there is strong appetite for reducing the cost of cash transactions in transit and retail.

sQuid was awarded the Best Practices and Market Penetration Leadership Award in Smartcards by Frost & Sullivan in May 2011.

For more information, visit: http://www.squidcard.com