Big gains for Montser­rat in mmoney

UK Barbados Nation - - EDITORIAL -

THE USE of mo­bile money to con­duct pay­ment trans­ac­tions was wel­comed by key stake­hold­ers in Montser­rat, who re­cently learnt more about the mmoney app, a mo­bile pay­ment so­lu­tion pow­ered by Bar­ba­dos-based fi­nan­cial tech­nol­ogy com­pany, Bitt.

“Dur­ing a two day trip to Montser­rat, our Bar­ba­dos-based mmoney team per­formed mmoney prod­uct demos and fielded ques­tions from the gen­eral pub­lic at a town hall meet­ing and dur­ing a ra­dio in­ter­view,” re­ported Sen­a­tor Rawdon Adams, chief ex­ec­u­tive of­fi­cer of Bitt, who spear­heads the mmoney team.

“We also met with mem­bers of the cab­i­net and the Op­po­si­tion party, mem­bers of the Cham­ber of Com­merce, the Fi­nan­cial Ser­vices Com­mis­sion, young en­trepreneurs, com­mer­cial banks and credit unions.

The feed­back was pos­i­tive and very en­cour­ag­ing.”

He added: “We demon­strated how mmoney could ben­e­fit the lives of those in Montser­rat by pro­vid­ing ac­cess to per­son-to-per­son money trans­fers.

This is an im­me­di­ate ben­e­fit to mer­chants and con­sumers.

How­ever, an even greater win could be the po­ten­tial for busi­nesses in Montser­rat to open their mar­kets across the Or­gan­i­sa­tion of East­ern Caribbean States (OECS).

“mmoney of­fers ac­cess to sig­nif­i­cantly cheaper on­line, re­mote and dig­i­tal pay­ments at the point of sale. Ad­di­tion­ally, the app has the po­ten­tial to help the busi­ness com­mu­nity in Montser­rat to in­no­vate and of­fer new ser­vices that move be­yond cash.” (PR)

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