In uncertain economic times, people are turning to alternative currencies, whether that means the digital realm and cryptocurrencies or reverting back to a barter system by exchanging services instead of money. Italian water supplier Padania Acque Gestione is offering poor families who have defaulted on their payments the ability to settle their bill with good deeds. This is a good twist on exchanging services as the needy can get access to an important utility while also helping the local community.
The Water Bank scheme is currently in place in Northern Italy. The Cremona province in particular has been harshly affected. Padania Acque Gestione customers can now pay by doing activities like tending public gardens and volunteering with seniors.
Community Service-Settling Bills
The Water Supplier Lets Poor Customers Pay by Exchanging Services
Trend Themes
1. Alternative Currencies - Exploring alternative currencies such as barter systems or digital currencies provides disruptive innovation opportunities for businesses to address economic uncertainties.
2. Community Service Exchange - Enabling the exchange of services instead of traditional monetary payments opens up disruptive innovation opportunities for industries to promote social welfare and support local communities.
3. Utility Payment Solutions - Developing innovative approaches, such as allowing customers to settle bills with community service, presents disruptive innovation opportunities for utilities to improve customer experience and ensure payment collection.
Industry Implications
1. Financial Technology - The financial technology industry can explore ways to integrate alternative currencies and create platforms that facilitate barter systems or digital currency transactions.
2. Nonprofit Organizations - Nonprofit organizations can leverage community service exchange programs to enhance social impact and engage volunteers while addressing the needs of the economically disadvantaged.
3. Utilities - Utilities can adopt utility payment solutions that allow customers to settle bills through various means, including community service, to promote financial inclusivity and support the local community.