NASSAU, BAHAMAS — A digital payments solutions provider said that while adoption of the technology to this point has been “moderate”, it expects greater uptake in “2022 and beyond”.
Jeffrey Beckles, Island Pay’s managing director, told Eyewitness News the company plans to roll out its Family Island banking solution in the new year.
“We have seen moderate adoption. When you look at what Island Pay has been able to do, along with others in the same space, the adoption has been moderate,” said Beckles.
“We anticipate that as we emerge out of the pandemic, which has really kind of steered The Bahamas into the digital transformation discussion, I think we will see greater adoption in 2022 and beyond.
“It is going to be the primary means of doing business going forward.”
Beckles noted that the company has just over 24,000 Island Pay wallet holders on its Sand Dollar-integrated platform at present.
We do have a Family Island solution for banking. We will roll out that solution in the new year.
– Island Pay Managing Director Jeffrey Beckles
“We are confident in the fact that as more people become familiar with the technology, we will see even more adoption,” said Beckles, noting that while New Providence has a higher population and ultimately more users, the company does have a solution for the Family Islands.
“We do have a Family Island solution for banking. We will roll out that solution in the new year.
“There is lower density there [but] their need is still great; that demands that a solution be rolled out and we have that.
“We will also be rolling out some other initiatives in the new year that [readily] expand the use of digital transactions.”
