UK Government approves Soldo for use by local authorities
Opening up a potential local government customer base for the fintech.
Business expense management fintech Soldo has been added to the list of approved payment solutions by the UK Government.
The addition means that public sector entities, like local authorities, can now choose Soldo as a prepaid card supplier.
Soldo says it means local government agencies could use its technology to ringfence hardship funds and provide vulnerable citizens with prepaid cards that can be instantly topped up and used.
Traditionally councils and agencies would provide people with cumbersome food or energy vouchers, or bank payments, which are often slow and inaccessible to those without bank accounts.
“Soldo’s infrastructure is agile enough to be rapidly adapted to the needs of local authorities,” said Carlo Gualandri, CEO and founder of Soldo.
“We are delighted to be chosen as a Crown Commercial Service supplier—helping local authorities and other government agencies benefit from Soldo technology. We want to use it in every way possible to support them, and citizens across the UK.”
Being added to the Government’s list of approved suppliers is a great first step, but isn’t necessarily a guarantee of winning business.
Soldo joins four other suppliers on the list of “Lot 2 Prepaid Cards” by the Crown Commercial Service (CCS), including Allpay, Prepaid Financial Services, Sodexo Motivation Solutions and Blackhawk Network.
“Soldo were chosen as one of 5 suppliers for Lot 2 Prepaid Cards by Crown Commercial Service because of its simple yet effective capabilities to distribute funds, but also its ability to track, manage and analyse spending,” said Janice Culshaw, category lead at the CCS.
“Soldo provides a positive solution for citizens in need and local authorities experiencing budget cuts in the current climate.”