News


The Caribbean is virgin territory for mobile money — Wehby

The Caribbean is virgin territory for mobile money — Wehby

With the Caribbean having low levels of penetration for mobile money products, GraceKennedy Money Services Ltd (GKMS) is still mulling over the next market it will choose to launch its digital currency product, GK MPay. The company is not ruling out countries in the...

Mobile money: the state of play

There are more than two billion people across the globe that don’t have access to a bank account. Predominantly living in the developing world, many are reliant on remittances from family and friends overseas in the form of cash, which they pick up from a brick and...

Why Digitization is the Future of Consumer Financial Services

The Federal Reserve recently studied 50,000 US residents and their Consumer and Mobile Financial Report found, somewhat unsurprisingly, that mobile banking is on the rise. The most common actions include checking account balances, transferring money to themselves or...

PayPal increasing several fees starting in March

SAN JOSE, CA — Buying and selling items on the internet is about to get a bit more expensive if you use PayPal to transfer money. The San Jose-based digital payment platform announced it will be increasing some of its fees starting on March 29, 2017. Read the...

IFC loans U$92.5mn to finance Grupo Promerica subsidiaries

Washington DC, January 23, 2017 – IFC, a member of the World Bank Group, has provided $92.5 million in long term financing to four subsidiaries of Grupo Promerica to boost access to finance for small and medium enterprises. Though small and medium enterprises...

Alternative finance a developing market

Alternative finance (AF), or crowdfunding, is a blanket term denoting a subsector of the fintech industry. It consists of enterprises, namely platforms or originators, using electronic means to match supply from investors or donors with the demand for funds,...

Grace to launch mobile money platform in Jamaica later this month

Caribbean conglomerate GraceKennedy will roll out its mobile payments platform under its GraceKennedy Money Services (GKMS) arm later this month. Called GK MPay, it can be accessed through island wide locations. This technological platform will allow people to pay...

E-Commerce in Latin America: Opportunities and Challenges

Latin America has tremendous potential for e-commerce but must overcome hurdles ranging from limited use of credit cards to a lack of online presence for many small businesses. Those were some highlights from a discussion at WorldCity’s CEO Club led by Paul Tessy, CEO...