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Fintech Helping Boost the Payment Industry

Mastercard, the second-largest payment technology corporation in the world and platinum sponsor of the 2024 Fintech Islands Experience (FiX24), the Caribbean’s premier financial innovation and transformation event, has identified the region as a prominent area to unleash many financial opportunities using technology. 

Icelsa Diaz, Mastercard Director, Fintechs Business Development, Caribbean, speaking on day two of FiX24 held at Sam Lord’s Castle, Barbados: A Wyndham Grand Resort, said that her company has been investing significantly to understanding the Caribbean market to create strategic partnerships in the region. “This conference is the biggest Caribbean event that gathers most of our current industry partners, but also a multi-stakeholder approach, so there will be people from the government, financial services industries, and also fintech that are trying to co-collaborate into the creation of a more innovative ecosystem.” 

Diaz further expressed that Mastercard has a strong focus on helping fintechs support and promote further financial inclusion. She said that many industry players are developing solutions using Mastercard technologies “to leverage from it and to create solutions to unshackle the unbanked population.” 

“You will be seeing partnerships with digital app players; you are going to see Mastercard partnerships with Neo banks that are leading in creating thoughtful experiences through our technology. Mastercard is not just working with the traditional payments players like fintech and financial industries; we are also working very closely with governments trying to create strategic partnerships that can magnify all our efforts in the financial inclusion ecosystem,” she added.  

Meanwhile, Payce Digital, an affiliate partner of Fintech Islands, has been offering Barbadians an array of services in the changing digital landscape. For the past eight years, Payce Digital has consistently brought about extraordinary levels of service and a new suite of innovative products to Barbadians, including easy access for customers to account on the go, Scan & Pay at mobile partners with Payce Mobile Pay, paying monthly bills with the eBiller service and contactless chip & pin.   

Chief Executive Officer (CEO) Alison Browne-Ellis participated in the panel “Lifting up Small Business”. She described the conference as “vital”, noting that it was Payce Digital’s second year sponsoring FiX.  

“We believe in what the Fintech Island team has been doing. We believe in a level of progression in terms of having a broad picture for a country as small as Barbados, which has big dreams, and because all the stakeholders in the industry have big dreams, this conference helps to bring experts into the space. It also helps us to have the knowledge, wealth, knowledge sharing, and the ability to really take on the world.” 

Over the three-day event, an awe-inspiring gathering of over 500 fintech experts and enthusiasts passionately discussed and explored various cutting-edge fintech topics that are shaping the future of the industry.