In early August the Belize Bank Limited launched its E-Kyash mobile wallet. It’s the first of its kind application, serving a fully-functional mobile payment ecosystem for local buyers, merchants, and retailers. Since the launch, tens of thousands of users have downloaded the mobile app, something that Belize Bank Executive Director Lydon Guiseppi did not expect. Guiseppi says that E-kyash is easy and safe.
Lyndon Guiseppi, Executive Chairman, Belize Bank Limited: “The EKyash initiative which we embarked upon about a month ago has exceeded our wildest expectations. I’ll give you some statistics to show you what I’m speaking about. When we initially launched Ekyash we were anticipating that it would take us one full year to get 8,000 subscribers, in the first two week we had thirty thousand subscribers who actually downloaded the app. What we are seeing now is more and more people are using these apps at various merchants. I no longer use my cash or my debit card or my credit car when I go to the supermarket. One hundred individuals of everyone who used the Ekyash app will get a contribution of a hundred dollars. Having spent two hundred dollars we’re gonna randomly select a hundred people at the end of the month and give them back a hundred dollars. So we’re trying to encourage and promote the use of the Ekyash app. It is going to be something that’s going to revolutionize the payment system in Belize. It is safe, it is cheaper, it is healthier you don’t have to handle cash and especially in a time when COVID is so rampant we don’t want to encourage people to be using cash so we’re quite happy with the Ekyash launch and how that initiative has been going.