EML PAYMENTS LIMITED (ASX: EML) (‘EML’) and United Ways across the state of Connecticut are joining forces to respond to the increasingly dire economic consequences of the COVID-19 pandemic. The combined groups of United Ways have created the Connecticut United Ways COVID-19 Response Fund. The Fund is being coordinated with philanthropic efforts statewide. It will rapidly deploy financial resources to individuals and families economically affected by the pandemic, including those who are out of work or have reduced work hours. In the coming days, the Fund will prioritize and qualify those who will be eligible for assistance.
The Fund is launching with $100,000 in support from the Aetna Foundation.
Understanding the importance of providing funding to individuals and families as quickly as possible, the Connecticut United Ways organization has partnered with EML Payments to distribute these funds via virtual cards which can be loaded and used in the recipient’s mobile wallet. EML’s solution will allow United Way to get dollars in the hands of those in need much faster than traditional programs that require the mailing out of plastic cards, and reinforces social distancing guidelines. “In times like these, where immediacy of action is as important as ever, EML is honored to partner with organizations like United Way to leverage our technology to help distribute funds to those impacted by this pandemic,” said Jamison Jaworski, CEO of EML’s North American division.Fintech News
The Fund will be used to help individuals and families that United Way calls ALICE® (Asset Limited, Income Constrained, Employed). These are our hard-working neighbors who already live paycheck to paycheck. Many of them provide crucial services in our community—such as caring for our children and elderly parents. Without a financial cushion, they are particularly vulnerable to the rapidly changing scenario our country now faces. United Way expects that the number of individuals and families in the state that fall into the ALICE income threshold will grow as the crisis continues.
“We want to support people in the communities we serve by ensuring they have access to basic needs during this uncertain time,” said Eileen Howard Boone, SVP of CSR and Philanthropy for CVS Health. “Through this donation to the Connecticut United Ways, we hope to provide access to food and financial support resources to help those most in need as a result of the COVID-19 pandemic.”
Connecticut United Ways hope to mobilize a response quickly to get money to individuals who most need it to pay for food, utilities, and other basic necessities.
ABOUT CONNECTICUT UNITED WAYS
Connecticut United Ways advance the common good by creating opportunities for all, with a particular focus on education, income/financial security, health, and basic needs – the building blocks for a good quality of life. We engage people and organizations throughout our communities who bring passion, expertise, and resources needed to get things done, and we invite everyone to be part of the change.
About EML Payments Limited
With EML, you will be empowered with more control, transparency and flexibility over your payment processes. Whether you serve businesses or consumers, EML makes your payment processing more efficient and secure from start to finish, while helping you improve customer service and increase brand loyalty.
Our portfolio offers innovative financial technology that provide solutions for payouts, gifts, incentives and rewards, and supplier payments. We issue mobile, virtual and physical card solutions to some of the largest corporate brands around the world, processing billions of dollars in payments each year, and manage more than 1,500 programs across 23 countries in North America, Europe and Australia.
For more information on EML Payments Limited, visit: EMLpayments.com