Solidarity Voucher for tourist and catering industry
Restaurants, bars and tourist accommodation are hit extremely hard by the corona-crisis. Buy now your digital voucher and spend it later. You have the power to support your favourite bars, hotels and restaurants, to keep them alive until you can go back to them. Available in your region when local government starts a Impact Multiplier project.
How does it work?
The system is simple: you transfer money from your euro bank account to a dedicated Solidarity Voucher account. Add clearly your name, email address and mobile phone number. This transfer automatically activates an account in the digital voucher payment system, where you will see the amount you transferred. This account is only for the administration of the voucher-rights. The money you paid for the digital voucher will be used for a loan fund. This fund provides loans between 1,000 and 5,000 euros to the designated businesses, once enough people bought vouchers.
Since these businesses need time to recover, it may take a period of time before the voucher value on your account will become transferable. From then on you can spend the vouchers at any of the businesses that have joined.
In various regions across Europe many SMEs in sectors adjacent to horeca or tourism will use the digital Impact Multiplier payment environment. All these businesses will accept digital payments with your voucher-credits.
What about businesses that go broke and do not repay the loan?
The voucher program has a strong insurance program to deal with defaults. Even so, we do not know how many people will take a stand to the crisis and if we will be with enough to make a difference. For that reason, the loan program will only start if a trustworthy national or international agency is willing to compensate when far more businesses go broke than the internal insurances can deal with. This enables us to say that you can be sure that you get the value you paid for.
What are you waiting for?
The longer we wait to support vulnerable businesses, the fewer will survive. That is a disaster, not only because your local pub will no longer exist. The more companies disappear, the more jobs will disappear with them, and the fewer consumers and businesses will trust the economy to recover. This can easily start a downward spiral that sucks the whole economy in a deep depression. We can prevent that by reinforcing our local economy. Each of us can start buying vouchers. Everyone can help to increase the local production for local consumption. Together we can make our economies more resilient and thus create a strong base for recovery of the whole European and world economy. In due time, and given support, these systems can also be applied to pan-European networks.
Keep your favorite bars, cafes and restaurants alive by buying now and getting your drinks later.
Support the catering and tourism sector speed up the recovery by buying solidarity now.