The Tribune

The Eleuthera Chamber of Commerce has teamed with the Central Bank and commercial banks to expose the island’s businesses and residents to newly-emerging digital payments solutions tomorrow.

The Chamber, in a statement, confirmed it is hosting the Eleuthera Digital Currency Expo at the Cancer Society of Eleuthera in Palmetto Point in conjunction with the Central Bank, the Clearing Banks Association and other payment solution providers.

The event is part of the Pay Fast, Live Digital campaign, and is designed to inform and educate Eleuthera residents and business owners on the digital payment solutions available to them following the decision by many banks to end their physical branch presence on the island.

Attendees will have the opportunity to speak directly with stakeholders on services, tools and other information needed to support digital payment options. John Rolle, the Central Bank’s governor, heads the list of speakers, which includes representatives from Bank of The Bahamas, Fidelity Bank (Bahamas), RBC Royal Bank, Sand Dollar, SunCash, Kanoo Pays and Mobile Assist.

The Eleuthera Digital Currency Expo will feature booths from various stakeholders with live demonstrations, presentations and question and answer periods where attendees can gain a better understanding of payment solutions modernisation.

The expo also provides the opportunity for banks to hear from Eleuthera residents amid concerns over the decreasing number financial institutions with brick-and-mortar locations across the Family Islands. Among the topics expected to be discussed are alternative digital payment solutions, the decline in cheque payments, and how utility companies can support the use of digital payments.

Participating campaign stakeholders will include Scotiabank, the Sand Dollar Unit at the Central Bank of The Bahamas, Cash N’ Go, MoneyMaxx, the Teachers and Salaried Workers Co-operative Credit Union and Public Workers Co-operative Credit Union.

The Pay Fast, Live Digital campaign is a two-year initiative designed to increase the Bahamian public’s comfort with digital payments. It includes credit cards, digital wallets, money transfers, cash apps, online banking and peer-to-peer payments. The aim is to create a widespread understanding of how individuals can pay and receive payments digitally.

The Eleuthera Digital Currency Expo begins at 5.30 pm and registration is free.