July 22, 2022
Jeffrey Beckles
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‘Barely scratching surface’ on Sand Dollar’s adoption
The Bahamas is “barely scratching the surface” of the Sand Dollar’s potential, payment providers asserted yesterday, with the digital currency needing more “high traffic” merchants to accept it to drive adoption.
Increasing $136m outbound transfers cause for ‘concern’
The Bahamas has “reason to be concerned” about the “growing trend” of outbound money transfers that hit $136m in 2022 as it represents incomes that are lost to this nation, it was argued yesterday.
Digital payments ‘not as robust’ despite 30% rise
The Bahamian use of digital payments is “not as robust as we’d like to see” yet, one provider asserted yesterday, even though the volume of transactions it processed increased by 30 percent in 2022.
Payment provider targets 25-30% digital user growth
A Bahamian payments provider yesterday disclosed it is targeting “manageable” annual growth of 25-30 percent in digital wallet users while pledging to do its part in reducing the “fear” surrounding electronic transactions.
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