GraceKennedy Brings Mobile Payments to Jamaica

January 3, 2017         By: Steven Anderson

Mobile payments likely doesn’t enter too many thoughts thinking about Jamaica, and that’s actually a surprising omission. An omission, in fact, that GraceKennedy Payment Services is set to help address, as it recently got a license and approval from the Bank of Jamaica to bring a mobile money solution to the island.

The service in question, GraceKennedy Money Services (GKMS), is set to be offered at multiple locations around the island. It underwent a fairly wide-scale pilot project, with over 250 internal customers taking part over the course of nine months, and the early results were sufficiently positive to allow for expansions and official licensing.

GKMS operations will allow users to not only pay bills via the service, but also buy goods and services at retail, add time to mobile devices, and even engage in peer-to-peer (P2P) transfers among other services, which should allow it to slot nicely into several different industries on the island itself.

Those interested will be able to put the service to use starting in January of 2017, with GraceKennedy chief executive Don Wehby noting that the service would put Jamaica ahead of several other countries in the region.

Wehby further commented “GK MPay is a world-class service which makes use of the best technology in order to create a ‘one-stop shop’ for a range of transactions. This innovative product will help increase financial inclusion, while giving the financially savvy another safe, convenient way to transact business.”

A country as deeply immersed in the tourist trade as Jamaica is could definitely put a mobile payments program to good use; chances are all these visitors will want access to a simple mobile payments system to reduce the risk of theft or loss in cash. Though we’re not exactly talking about a major platform like Apple Pay, Samsung Pay or anything else; who’s actually using GKMS anyway?

Mobile payments have a great potential to add to a country’s ability to attract business interests and bolster internal customer experiences as well. It’s good news to see a new mobile payment option arrive on the scene, though it may not be all that helpful in the end.