THIS city in US to launch $53 mn pre-paid card program for migrants

Run by Mobility Capital Finance (MoCaFi), the Immediate Response Card initiative is aimed to offer financial assistance to asylum seekers staying at the Roosevelt Hotel to purchase food and essential supplies.

According to City Hall, the program will commence with 500 migrant families, replacing the existing food service at the hotels, media reports said.

The pre-paid cards, usable only at designated outlets such as bodegas, supermarkets, grocery stores, and convenience stores, require recipients to pledge their expenditure solely on food and baby supplies through a signed affidavit.

If not adhered to, the migrants will face expulsion from the program.

The card values will fluctuate based on family size and income, potentially reaching nearly $1,000 per month for a family of four, providing $35 per day for food.

The cards will be refilled every 28 days.

MoCaFi CEO and founder Wole Coaxum expressed excitement about the partnership with NYC, stating, “MoCaFi’s goal is to expand access to financial resources for individuals excluded from banking, such as asylum seekers, while helping the local economy.”