According to Beckles, Island Pay has 20,000 active wallet holders.
“We believe that number will grow. We [see] some significant growth ahead,” said Beckles.
He further noted that the MasterCard arrangement signals significant confidence in the Central Bank and Island Pay.
“Mastercard is a global brand and highly respected payments and technology company. For Mastercard to demonstrate this level of confidence, that is a really big deal for The Bahamas and Island Pay,” said Beckles.
“It speaks to the possibilities of Bahamians partnering with global entities to move the needle in The Bahamas. We are living in a very innovative world. There are a lot of talented and gifted Bahamians who have been working on the Island Pay team.”