What is mobile money?
This is digital currency which is converted from physical cash. This electronic wallet allows for transactions to be done from one’s mobile phone.
Describe how GKMS MPay works?
By registering at an agent location (Western Union) and downloading the app, the funds are placed in the Mobile Wallet with the help of the assisting representative. Please note that funds sent via Western Union can be added to ones MWallet also. Once this is done, a person can go about purchasing goods and services from participating Merchants who have also signed up to use the service. These include, apparel or grocery shopping, paying remittances or even sending funds to family members and friends. When you go to any of the merchants that support GK MPAY, all you have to do is scan a QR Code sticker that the merchant will stick to their cashier’s station. So instead of pulling out your debit card, all you have to do is scan the QR code and authenticate using your PIN. The PIN Number is code sent to one’s phone upon registration. There’s also the feature of purchasing a simple phone top up for your loved ones also.
What problems is MPay aiming to solve?
GKMS is aiming for MPay to help in the transformation of money movement via its new electronic platform, starting first in Jamaica. Also we want to provide everyone with a convenient and safe way to transact business.
Any plans to bring this to other Caribbean islands?
GKMS wants to expand its mobile money services beyond Jamaica to other Caribbean islands. GKMS operates in 11 regional markets.
Was the platform developed locally?
No, it not. This was developed by Oberthur Technologies, a world leader in digital security.
What features will be added in the future?
We cannot say at this time.
Can MPay be used to shop online?
No, it cannot.
Website – gkmsonline.com/mobile-money