New digital payment options on horizon
Bridgetown, Barbados (October 10, 2022)
Barbadians can now pay their bills at self-service kiosks and have greater access to digital alternatives to physical cash thanks to Bahamian fintech company Island Pay.
During a ceremony on Monday at the Constitution River Terminal, The City, where the first kiosk is located, general manager of Island Pay Barbados, Omar Watson, said the company was on a mission to help the island evolve its financial services by introducing modern technology and partnering with government entities and the private sector to make business transactions easier and more convenient.
He said commuters would be able to pay bills at some of the island’s terminals, adding that the company would soon be issuing credit cards and incorporating the new Trident ID card in its range of services.
“Besides our budding relationship with the Transport Authority, we also very soon expect to have the new Barbados digital ID as a recognisable instrument at our kiosk and potentially play our part in many more Government driven initiatives,” Watson said.
A self-service payment kiosk was established at the Constitution River Terminal and one will be set up at the Speightstown Terminal in St Peter, the Granville Williams Terminal in The City, and selected Rubis service stations. In addition, Barbadians will have the option of paying their bills online or sending and receiving money via the Island Pay e-wallet application, and withdrawing cash from their Island Pay accounts at the kiosks.
“Initiatives involving the sick or less fortunate are of particular interest to Island Pay as we understand the importance of quick and efficient transmission of funds to those in need.
“A day versus a week means a lot and we look forward to continuing discussions with the respective decision makers and ministries charged with this particular noble duty,” he said.
Watson disclosed that state-owned enterprises were also reaching out to Island Pay for access to its suite to expand their reach to customers. In The Bahamas, the company had a partnership with Mastercard which allowed residents to use a debit card to access Island Pay services and Watson said a similar arrangement was on the cards for Barbados. He explained that Barbadians would be able to use the Island Pay debit card to purchase items at any store with a credit card point of sale terminal. Watson added that the company was partnering with SurePay Barbados to help expand its services, and working with telecommunication companies Flow and Digicel to allow customers to top up their mobile devices. The Island Pay official assured that both the e-wallet and kiosks were safe and secure, noting that the systems were easy to understand, even for people who were not technologically savvy. He said people who did not have Island Pay accounts could still access certain payment functions at the kiosks.
Watson explained that the Bahamas-based company decided to launch in Barbados to offer more convenience, assist in financial literacy and for financial inclusion purposes.
As it relates to employment generation, he said there was a small team of people employed at Island Pay Barbados and the company had plans on expanding its human resources as it developed here.
During Tuesday’s ceremony, Director of the Transport Authority Ruth Holder said the kiosk would provide a value-added service at the Constitution River Terminal for the travelling public.
She deposited $20 to the kiosk to top up her mobile wallet. (SZB)
Originally published on: https://barbadostoday.bb/2022/10/05/new-digital-payment-options-on-horizon/