Introducing this new system for paying part of the subsidy is intended to ensure that the money is spent and remains in the area, in its shops and other establishments. The scheme will contribute to the economic and commercial vitality of the area and prevent traders from abandoning it.
The project involves traders in the Zona Nord (Ciutat Meridiana, Vallbona and Torre Baró), Roquetes and Trinitat Nova, in Nou Barris; Trinitat Vella, Baró de Viver and Bon Pastor, in Sant Andreu, and Verneda-La Pau and Besòs-Maresme, in Sant Martí. The area has a population of 100,000, 7% of the total for the city, with income levels considerably below the average for Barcelona.
The REC promotes the real economy to serve local residents and businesses. It is a complementary form of payment to the euro, allowing transactions in a community between individuals, institutions and businesses that accept it.
It is a digital currency that can be used via the REC Barcelona mobile app or a card with a QR code to make instantaneous, easy and cost-free payments. To join the REC network you only need to download the app, register as a user (the app will be available in mid-May), and either start accepting payments in rec or exchange euros into it using a credit or debit card.