Mobile money comes to Jamaica
A jelly man stood at his vending spot in Hope Gardens, where he was surrounded by several persons who were purchasing ice-cold coconuts. Not far away was a pan chicken vendor. He too has lots of customers anxiously waiting to be served a piece of the well-spiced meat.
The shoppers, however, were not using cash. All they had in their hands were cellphones, and they were all transferring money to the vendors via GK MPay.
The GraceKennedy Payment Services platform allows persons to use their your mobile phone to pay bills, pay for goods and services at retail locations or to top up mobile phones and execute peer-to-peer transactions.
Don Wehby, CEO of GraceKennedy, said GK MPay will, among other things, reduce the need to manage large sums of cash on the go, and facilitate payment or money service needs without hassle.
"This innovative product will help increase financial inclusion, while giving the financially savvy another safe, convenient way to transact business," Wehby said.
"Our customers will be able to make purchases of goods and services quickly and easily, from the jerk chicken man to paying for taxi service in the wee hours of the morning."