NYC begins handing out prepaid debit cards to migrants in controversial program
Story by Craig McCarthy • 16h • 2 min read
The Adams administration launched its program to give prepaid debit cards to New York City migrants this week — two months after inking a controversial no-bid $53 million contract for the deal.
Staffers with the New Jersey company, Mobility Capital Finance, handed out eight preloaded Mastercards at the Roosevelt Hotel on Monday as part of its pilot program that will expand to 115 cards by next week, according to a City Hall spokesperson.
The one-year deal came under fire after The Post first revealed the contract was inked without a typical bidding process.
The program could be a boon for the tech start-up, giving it the potential to net $1.8 million by taking a cut of the funds loaded onto each Mastercard, according to the contract.
The administration scaled back the original plan, which would have loaded up the cards with a month’s worth of money for food and baby supplies. Cash will now need to be replenished each week.
A family with two parents and kids under five will receive about $350 a week, the spokesperson said.
https://www.msn.com/en-us/money/companies/nyc-begins-handing-out-prepaid-debit-cards-to-migrants-in-controversial-program/ar-BB1kzoW7?ocid=msedgdhp&pc=HCTS&cvid=805b9800f7bd45a89194297851294764&ei=6
