E-Payments Solutions On The Way

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Minister of Finance and Economic Affairs, Chris Sinckler (FP)??

Plans are in train to develop low-cost e-payments solutions within the banking system to appease the wishes of stakeholders for an easier way to transact business without the hassle of standing in long lines.

Word of this has come from Minister of Finance and Economic Affairs, Chris Sinckler, who revealed that his Ministry, in collaboration with the Data Processing Department, was working with banking officials to provide this solution at the lowest cost to the consumer.

Speaking to a large audience on hand for the launch of RBC’s Visa Platinum Credit Card at the Concorde Experience, Seawell, Christ Church, last night, the Finance Minister said this facility would fit squarely with government’s Competitiveness Programme which is designed to address inefficiencies in all areas.

"The Barbados Competitiveness Programme seeks to improve the island’s competitiveness by way of addressing the key bottlenecks, which affect the efficiency of the movement of goods in Barbados, and by supporting their trade and investment activities.

"One of the very important initiatives of this programme would be to ensure that the most efficient technological infrastructure is in place, to assist stakeholders in making the most effective use of an electronic environment including e-payments, in the conduct of their business," Mr. Sinckler emphasised.

The Finance Minister, in encouraging Barbadians to use the RBC’s Visa Platinum Credit Card to complete their transactions with government and other agencies, gave the assurance that efforts will be made to protect from credit card fraudsters.????

"While we are committed to the uplifting of the Barbadian consumer, we are also cognisant of the fact that the protection of consumers in an electronic environment, is also of immense importance.?? Those who accept your offer of this new product, do so with the confidence that there is more than adequate security to protect them from the crimes which seem to pervade the electronic media and the conduct of business electronically.?? Therefore, consumers expect to be protected from credit card fraud, identity theft and any other types of white collar crime, which can be perpetrated out there in cyber space," Mr. Sinckler surmised.

RBC’s President and Country Head, Horace Cobham, said the launch of the new visa card coincided with the bank’s 100th anniversary celebrations.

jwilson@barbados.gov.bb

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