(PHOTO VIA SHUTTERSTOCK)
NASSAU, BAHAMAS Now is the time to transform the payments industry from an ancient one to a digital one, according to a senior accountant and certified fraud examiner.
Kendrick Christie, A F A Consultants president and managing partner of K Christie and Co, told
Eyewitness News he believes 2021 is the year for a shift towards digital wallet payments as a major payment source In The Bahamas, as well as cryptocurrency.
Kendrick Christie.
According to Christie, The Bahamas is sorely underrepresented when it comes to digital forms of payment.
“The long lines at banks for cash deposits and cheque cashing is proof of this,” said Christie.
nhartnell@tribunemedia.net
A Bahamian digital payments provider is aiming to pull the boot strap strings together and add a further 8,000-10,000 wallet accounts by fully exploiting its platform s potential.
Jeffrey Beckles, Island Pay s managing director, told Tribune Business it had invested quite handsomely in its technology infrastructure since its formation in 2015 and now planned to leverage this into the roll-out of a full product menu with nationwide reach.
He added that the payments provider, which has ambitions to evolve to the extent that clients can conduct all banking and financial services from their phone, will have a presence in Exuma, Eleuthera, Long Island and San Salvador by the end of the 2021 first quarter.