Cable & Wireless Jamaica plans to launch its own mobile wallet as early as this year. It would provide money payment services for those without banking accounts, the company chief executive says.
“We are going to hopefully launch this year the M-wallet. We are going to create the ability of the average Jamaican with a cell phone to engage in sophisticated banking services as never before for those people who are unbanked,” Cable & Wireless president Garfield Sinclair said at the JSE 10th Regional Conference held at the Jamaica Pegasus Hotel on Tuesday.
Local smartphone users already can pay for goods and services using apps including Paypal and Payoneer. However Cable & Wireless could offer the services similar to m-pesa money transfer system on phones in Kenya. It allows phones to transfer cash using SMS text without internet connectivity.
The jump towards mobile wallets however requires a strong uptake to cover start-up costs. Just this week US based Amazon, the largest online retail store announced plans to fold its mobile wallet after just six months amid a slow take up. It reportedly offered loyalty points but failed to integrate with debit and credit cards.
A Lime money wallet in your pocket
January 23, 2015 by