Big gains for Montserrat in mmoney
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)