New electronic wallet technology launched

Barbadians were on Wednesday introduced to the newest way of virtual banking.

The MyReadyCash app, an electronic wallet, is expected to allow small business owners especially the advantage of being able to move money anywhere in the world or receive funds in real time.

MyReadyCash was developed and is distributed by Barbadian-born, United States-based entrepreneur Keith Downer, in conjunction with US-based company Tech Blue. The electronic wallet is being introduced to the Barbadian business community via the Cooperative Investment Fund, an entity which is already involved in Barbados in money management, sustainable energy, digital payments and even housing.

President of the fund, Oriel Doyle, said he was excited about the electronic wallet initiative since it would allow any Barbadians to seamlessly send or receive money from anywhere in the world, even if they don’t have a bank account, once they had a mobile phone.

“The most significant aspect of our operation so far is the introduction of our digital payment system. Over the past two years we’ve been searching for a solution to provide an opportunity for the cooperative sector to be major players in our economy. This system is new to Barbados, where with a cell phone, users can use their financial services in a way that no other financial institution can provide. This is the new way to go,” Doyle said. (BA)

 

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