Big Issue launches 'resellable magazine'

Big Issue Pay It Forward resellable magazine

The scheme will allow buyers to 'resell' their magazines to friends, with proceeds going to the original vendor.

Monday, April 1, 2019

Big Issue has launched a resellable magazine in a bid to overcome the problems faced by an increasingly cashless society.

The charity hopes to encourage buyers to pass magazines to their friends, who will then scan a unique QR code to pay the original vendor.

The Pay It Forward scheme has been launched in partnership with digital bank Monzo, who will help vendors open their own bank accounts.

Monzo’s Lew Isaacs said: “In the last 10 years, the number of cash payments has halved. And although paying by card is convenient, the falling use of cash has real consequences for people in poverty and organisations like The Big Issue.

“We hope Pay It Forward will help grow the earnings of Big Issue sellers when readers pass the magazine on to their friends. Our goal is to give more vulnerable people access to financial services, and help The Big Issue continue its crucial work.”

 The scheme has launched in a limited number of trials across the UK.

It builds on previous efforts by the homeless charity to assist vendors overcome the problems of a cashless society, such as equipping vendors with contactless card payment machines.

Big Issue vendor Aaron Dunn said: “It is great because you get to earn extra money on top of the sales you make of the magazine.

“You never know how far it is going to go – one of my magazines has already been passed around over 20 times.”

 

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