The Tribune

PRIVATE island destination Kamalame Cay has turned to digital payments for part of its payroll.

Portland Bain, chief financial officer at Kamalame Cay, who runs a cashless system at the destination off the coast of Andros says roughly 30 percent of the 250 employees on payroll receive their salary in Sand Dollars.

He said: “It prevents mishandling and theft, enhancing security when it comes to financial transactions. Any technology-based product we can use, we will. At this time, it is the Sand Dollar through SunCash that we have a grasp on. As a young Bahamian, I would like to promote things that are Bahamian, and the Sand Dollar is our thing.”

Mr Bain added: “I can still use the banks where I have my payroll system set up and make the transfers just by adding the Sand Dollar wallet account number – it looks no different from a regular bank account number. It’s a seamless process. The fees still exist, but it makes it easier for my employees

to receive their funds here in Andros, where we don’t have a commercial bank at all. SunCash provides us with a ‘bank in a box,’ so to speak, which is basically whatever we can think of when it comes to a bank. Everything except for loans, we can use SunCash and Sand Dollar for.

“I want to push the uptake of it even more and get most of the vendors on the island utilising it. Once they see and understand how quick and easy the transfers can be, we will see even more usage."

Bain said salary payments for those who have opted to receive Sand Dollar are received in two to three hours as opposed to the following day for those who do not use that option.

Owen Rahming, a Kamalame Cay employee, said: “Since before the COVID pandemic, I signed up for it because that was a tough time and made it a lot easier to get funds. Now that COVID is over and we are back to somewhat normal, getting paid that way is still easier and better for me. More and more of the vendors are accepting Sand Dollar, so that is good for us as we don’t have a bank set up. If we want to pay our bills, BPL or BTC, it’s a lot easier”