George F. Huggins’ Foodland Grenada has become the first company to use what’s identified as the “DCash Consumer-to-Merchant” transaction, an ECCB business innovation with a tagline of “DCash is: ‘safer, faster, cheaper”.
REPORT:
Governor of the Eastern Caribbean Central Bank, Timothy Antoine, speaking on the roll out of the initiative, says the transaction is a major milestone in the bank’s mission to place “DCash” in the hands of the people of the Eastern Caribbean Currency Union.
He congratulated George F. Huggins making history, in this regard.
Antoine discloses that the ECCB is planning the public roll- out of DCash by the end of March this year.
The ECCB has begun issuing DCash, which is being used to make purchases, by select consumers from selected merchants, as part of the closed segment of the DCash Pilot programme.
It’s the final step before the public launch.
In the next few weeks, the ECCB will be working with registered financial institutions, merchants and agents, to achieve full readiness for the public roll-out in the pilot countries: mainly Antigua/Barbuda, Grenada, St. Kitts/Nevis and St. Lucia.
The ECCB says one of the key objectives of the DCash Project is to provide the people of the ECCU with a safer, efficient and cost-effective option for conducting their financial transactions.
The DCash Pilot project is a key initiative of the ECCB’s transformational agenda as articulated in its 2017-2021 Strategic Plan. Sheena Phillip-Lynch, Wee FM News.
