Mastercard has teamed up with payment processing technology company, Dynamics Payments, to launch an application (app) that will increase financial inclusion for the Caribbean region.
This comprehensive solution is expected to result in a marked increase in credit and debit card usage in the coming years. The app will be available in three Caribbean markets – Jamaica, Dominican Republic and Puerto Rico.
With its vast experience in payment services technologies, Dynamics Payments will offer consumers a comprehensive digital wallet with the safety and security features that Mastercard cardholders have come to enjoy and rely upon.
At the same time, businesses will be able to utilise the app to register their mobile devices as payment terminals, including for Tap on Phone, a solution that turns phones into payment acceptance devices.