Government brings back Carlo scheme for festive season

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The gift voucher scheme operated via the Carlo app was a huge success for both bonus recipients (approximately 10,000 civil servants, state and municipal employees, retired civil servants and non-medical staff of the Princess Grace Hospital) and partner traders (currently numbering 317). The Government, in consultation with the National Council, has therefore decided to bring back the initiative for the festive season, as part of the economic recovery plan.

The success of the scheme extends beyond the festive gift vouchers, as the app now has more than 21,000 users and has processed nearly €13 million in transactions. These purchases have generated €900,000 in rewards for consumers. The cashback is reinjected into the local economy, generating more rewards in turn. Since the scheme was launched, it has produced VAT of more than €2 million for the Principality.

The app’s success is also evident from the average 450 daily transactions in September 2021 and the enthusiasm of the consumers who use the app outside the end-of-year bonus scheme. This group represents 70% of active users.

But Carlo isn’t stopping there. The young company, which is supported by the Monaco Tech start-up incubator, continues to expand its services and develop new functionality (bill sharing, spotlighting partners, digital marketing, improvements to the interface, etc.). In recent months, the Carlo app has also been adopted by several private-sector employers looking to offer their teams gift vouchers to celebrate Monaco’s National Day or the children’s Christmas party, for example.