The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net

A digital payments provider says it is now handling 20 percent of COVID-19 benefits payouts on behalf of the National Insurance Board (NIB).

Sean Smith, SunCash’s business development manager, told Tribune Business that the reduced lines at NIB’s Blue Hill Road headquarters were the result of its locations reducing pressure on the social security system. As a result, the queues have partially shifted to the provider’s East Street and Wulff Road outlet and other sites.

NIB has teamed with Sun Cash to help distribute unemployment benefits, and Mr Smith explained: “Instead of them towing the line to NIB to get their cheque, and then towing another line at the bank, NIB came to SunCash to deliver these cheques to these persons digitally.

“What we’re able to do is deliver them digital vouchers or digital cheques, and they can take that voucher and redeem that cheque on their SunCash app, which is right on their phone. If they want they can go to Super Value and buy groceries, and get money back. Or they can go to the gas station and get gasoline, or they can go to Bamboo Shack and a whole host of other companies within our network.

“Right from the phone they can top-up BTC, top-up Aliv, pay BPL (Bahamas Power and Light), Water and Sewerage, Grand Bahama Power, Cable Bahamas and a host of other companies. They can also do international transfers right from there. We are Western Union representatives, so they can do international transfers.”

Mr Smith added that Sun Cash’s partnership with NIB ties directly to Project Sand Dollar, the digital Bahamian dollar that was launched by the Central Bank of The Bahamas. Sun Cash’s launch of digital payment kiosks coincided with Sand Dollar’s Abaco arrival in March, as it sought to give Hurricane Dorian victims access to financial services.

“This is tied into the Sand Dollar, so NIB would be able to pay with Sand Dollar,” he explained. “We have been deploying our kiosks, and there are about 12 of them now.” Mr Smith said these kiosks are in the Rubis gas stations on Wulff Road, Sir Milo Butler Highway, and at the Fox Hill Road/Prince Charles Drive junction.

Other sites include the KZ pharmacies on Prince Charles Drive and Market Street, plus the Solomon’s locations at Yamacraw, the SuperCentre by Cable Bahamas, and the two Fresh Market stores at Harbour Bay and Old Fort Bay.

“It is an orange kiosk. It is right between most of the ATMs (automated teller machines), and essentially you can do all of the things there. It will say it is Sand Dollar ready, so persons can use those,” Mr Smith said. “With the technology we are rolling out, if you were to look at all of our features, you are able to go through our app, you are able to go online, you can see that we have these kiosks.

“You would see that we have these physical stores and then we have devices that would be able to accept debit and credit cards, and we have kiosks that will deliver cards. You will be able to go to a kiosk and get a card.

“We have 75,000 cards we will be dispersing out there, so the same way you have a credit or debit card you will have a Sun Cash card. Your Sun Cash card will allow you to interact with people that are unbanked, and this card will help you because you can pay it just like you pay your debit or credit card to your bank account.”