The Adams administration commenced its initiative to provide prepaid debit cards to migrants in New York City this week, following a controversial no-bid contract worth $53 million with Mobility Capital Finance, a New Jersey-based company.

At a pilot program held at the Roosevelt Hotel on Monday, eight preloaded Mastercards were distributed, with plans to expand to 115 cards by the following week, as confirmed by a spokesperson from City Hall.

The contract drew criticism after it was revealed by The Post that it was awarded without a standard bidding process.

Under the terms of the one-year deal, Mobility Capital Finance stands to earn up to $1.8 million by collecting a percentage of the funds loaded onto each Mastercard, the New York Post reported.

Initially intended to provide a month’s worth of funds for food and baby supplies, the program has been modified, requiring cash replenishment on a weekly basis instead.

Despite the controversy surrounding the contract, the initiative could potentially benefit the tech start-up involved.

Written by B.C. Begley