Business

Sun Cash’s digital wallet users top 50,000

More than 50,000 active users now use Sun Cash’s mobile wallet to carry out digital payments, a milestone that means the digital payment provider is getting its platform’s services right, the company’s Head of Business Development Raymond Smith told Guardian Business yesterday. 

Smith said the company’s ability to provide Western Union transactions directly from Sun Cash’s mobile wallet has attracted many people to the app.

“All the onboarding can be done from the phone and you can send Western Union payments around the world,” said Smith.

While Sun Cash’s Western Union business is the second most used thing in the mobile wallet’s arsenal, Smith explained that many more people have used the app to send vouchers across the country as a digital payment form.

“It’s like sending digital cash around the country and people are using it to go to the grocery stores, to go to the gas stations.”

According to Smith, Sun Cash has more than 675 merchants that accept its form of payment.

He said the company’s next big digital payment upgrade will be the rollout of its new Sun Cash card, which will be linked to customers’ mobile wallets and will allow them to swipe, tap or use a QR code to make payments. According to Smith, 75,000 cards will begin to be distributed starting this week.

He added that by August, the company will roll out Visa-branded debit cards that can be linked to the mobile wallets.

The company also recently launched its mobile point-of-sale device, which Smith said will allow for small business owners, even road-side vendors to accept digital forms of payment.

He added that The Central Bank of The Bahamas’ digital currency, Sand Dollar, is now fully integrated into its mobile wallet and can be used anywhere Sun Cash is accepted.

The mobile wallet can also be linked to a bank account to allow transfers to and from the wallet.

“We are the only persons right now who can use the Sand Dollar integrated into the mobile wallet,” said Smith.

The company also recently retooled and relaunched its mobile app, ensuring that it is aesthetically pleasing and easy to navigate.

Smith said the company’s more than 80 kiosks that compliment its more than 675 merchants have allowed for financial inclusion on the Family Islands and brought more Bahamians to use the company’s mobile wallet.

“The more persons see the benefit behind the ecosystem that we have created, the more they want to be a part of it,” he said.

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Chester Robards

Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian. Education: Florida International University, BS in Journalism

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