NASSAU, BAHAMAS- Digital payments provider SunCash is on the verge of achieving full national coverage, promising to bring financial access to every Bahamian regardless of location. With over 85,000 accounts now active, the company is positioning itself as a critical player in closing the banking gap left by traditional institutions across the Family Islands.
“As we mark our eighth anniversary this month, we are extremely pleased to report that the number of SunCash accounts now tops 85,000,” wrote Shawn Smith, principal and director. “That number is not just about our success as a provider – it is a reflection of the need for a solution to the problem of how to conduct your financial affairs if you live on an island where banking facilities are scarce or non-existent. For those of us in New Providence or Grand Bahama, we don’t stop to think about what it is like to conduct the simplest of transactions, paying a BPL bill for instance, or depositing wages. But for those living in Acklins, Mayaguana, Inagua, even closer to home in Andros or the Berry Islands, seemingly routine obligations can be complicated, challenging and often expensive.”
The Central Bank-regulated fintech, launched in 2017, has expanded rapidly across the country with 15 storefronts and more than 200 ATMs and kiosks. Services include deposits, withdrawals, utility payments, payroll processing in SandDollars, and remittances. SunCash is also partnering with government agencies to integrate payments for public services.
“Sometimes those challenges can be life-threatening,” Smith added, referring to communities without access to emergency cash due to the lack of banking services.
In many remote settlements, residents have long relied on informal systems—sending trusted individuals to Nassau with envelopes of cash to pay bills or deposit wages—often exposing themselves to safety risks and high transaction costs.
“The struggles associated with that kind of financial exchange are not only slow and inconvenient, they put the individual carrying the money at risk for their safety. In an age when the ability to conduct transactions digitally is at our fingertips, burdening someone to transfer cash makes no sense,” Smith said. “It is too great a risk, too slow a solution, too inefficient and expensive as the carrier of the funds has to be paid for not only the bank deposit or withdrawal but for the act of taking money around to pay bills for community members.”
Smith emphasized that the company’s mission goes beyond numbers, pointing to SunCash’s impact on financial inclusion and empowerment.
“SunCash is now on every island in The Bahamas with any population over 50 persons with the exception of Acklins and we are only waiting for the mailboat to be back in the water to deliver the equipment that is ready to go to Acklins,” Smith said. “Then, for the first time in Bahamian history, there will be full financial inclusion for every resident whether they live in the heart of Nassau or the most remote corner of Mayaguana.”
Among its notable clients is Kamalame Cay in Andros, where SunCash’s SandDollar payroll solution filled a critical gap after the last commercial bank closed its doors.
As the company continues its island-by-island rollout, it is making good on a promise that many banks could not keep—ensuring every Bahamian has equal access to modern, safe, and efficient financial tools.
