Author name: Scieska Adderley

Service to soon become available at Cost Right Nassau and Freeport

Residents on New Providence can now transact digitally via Kanoo’s digital platform at Solomon’s Super Centre, located on Old Trail Road; Solomon’s Yamacraw; and Solomon’s Lucaya on Grand Bahama, thanks to a partnership between AML Foods Limited and Kanoo.

According to AML’s vice president of marketing, Renea Bastian, Solomon’s is pleased to partner with Kanoo, as this payment option is “fast, simple and convenient.

“Our goal is to always provide satisfying, easy, and modern shopping experiences for all our customers, and having Kanoo as a payment option adds to these efforts and the level of quality service we already provide,” she said.

Once customers have downloaded the app, created an account with Kanoo, and added funds to their Cash Card, paying for items is quick and easy. At the point of checkout, customers scan the QR code, and in seconds they can leave the store with their purchased goods in hand.

Kanoo Chief Executive Officer Keith Davies noted how the company’s vision is to “make life easier for Bahamians” and said he believes providing Bahamians with this type of convenience in their everyday lives speaks to that vision.

“I look forward to shopping at all of AML’s stores in the not too distant future, and I believe forging partnerships like these [is] necessary for the country as it connects merchants with consumers,” he explained.… Read the rest

Residents in New Providence can now transact digitally via Kanoo’s digital platform at Solomon’s Super Centre, located on Old Trail Road, Solomon’s Yamacraw, and Solomon’s Lucaya in Grand Bahama, thanks to a partnership between AML Foods Limited and Kanoo.

AML’s Vice President of Marketing Renea Bastian says Solomon’s is pleased to partner with Kanoo, as this payment option is “fast, simple, and convenient.”

She added that “Our goal is to always provide satisfying, easy, and modern shopping experiences for all our customers, and having Kanoo as a payment option adds to these efforts and the level of quality service we already provide.”

Once customers have downloaded the app, created an account with Kanoo, and added funds to their Cash Card, paying for your items is quick and easy. Then, at the point of checkout, you scan the QR code, and in seconds you can leave the store with your goods in hand.

Kanoo’s Chief Executive Officer Keith Davies noted how the company’s vision is to ‘Make Life Easier for Bahamians’ and believes that providing Bahamians with this type of convenience in their everyday lives speaks to that vision.

“I look forward to shopping at all of AML’s stores in the not too distant future, and I believe forging partnerships like these are necessary for the country as it connects merchants with consumers.… Read the rest

By TANYA SMITH-CARTWRIGHT

tsmith-cartwright@tribunemedia.net

THE Ministry of Tourism’s Bahamas travel visa platform is now being powered by Kanoo, a payment processing company owned by young Bahamian professionals making history.

Through Kanoo, Bahamians can pay for their travel visas with the Sand Dollar, a digital form of Bahamian currency authorised by the Central Bank.

“Sand Dollar is a digital currency, not a cryptocurrency,” explained Nicolas Rees, chairman and co-founder of Kanoo. “Sand Dollar is just a Bahamian dollar. It’s Bahamian legal tender which means it is no different than a physical paper dollar. It’s just an electronic version.

“The payment is a feature that is available to any of our clients and businesses that are on the Kanoo platform. We congratulate the minister and Ministry of Tourism on being the first to officially transact using the Sand Dollar. History in the making.”

Kanoo is a licensed payment service provider and is authorised to issue and transact electronic retail payments and electronic currency.

“This means that we have to operate under specific KYC (know your customer) guidelines, AMI (account management information) guidelines, as well as implement certain security elements and protocols,” Mr. Rees said. “So, this license actually puts us pretty much on par with a banking institution.… Read the rest

A Bahamian digital payments provider yesterday said it is expecting “tremendous growth” as the volume of electronic transactions continues to increase amid the COVID-19 pandemic.

Herbert Cash, Kanoo’s chief financial officer, told Tribune Business that digital payments – and the adoption of digital wallets by Bahamian consumers – has “increased” drastically over the last few months as users receive unemployment and other social benefits electronically.

He added: “COVID-19 is the main driver for all of this. Banks have even seen greater use of their online banking services. We recognise that more persons are comfortable using the wallet services, and more merchants are using it to collect and process payments.”

Kanoo is an approved financial institution (AFI) for the Bahamas digital currency, the Sand Dollar, and Mr Cash said he is expecting “tremendous growth” for Kanoo and the industry as a whole as this and other digital products continue to roll-out.

He said: “We see not only significant interest in The Bahamas but also throughout the English-speaking Caribbean. Kanoo’s digital gift card platform has been a tremendous benefit for many persons. This is our way to encourage persons to shop locally and support our domestic businesses and the labour market by extension.”… Read the rest

NASSAU, BAHAMAS — A digital payments solutions provider is projecting that by year’s end, the number of users on its platform will surpass 100,000, as it now focuses on enhancing the value to merchants and consumers.

Nicholas Rees, chairman and co-founder of Kanoo told Eyewitness News: “We’re seeing tremendous growth with new users signing up by the minute now since launching our cashless payment solution to the Bahamian public in December 2019.

“This trend continues not only on the user side but on the merchant side as well. Merchants are seeing the marketing power and value add from our digital gifting and customer engagement platform.

“Today, the Kanoo family includes thousands of users and merchants, all now fully enabled to transact digitally and gain access to the financial and economic benefits offered by the Sand Dollar.

“We see the interest and new sign-ups occurring daily, such as New Providence, Grand Bahama, Long Island, Exuma, and Eleuthera.”

Kanoo is one of several authorized financial institutions (AFIs) approved by the Central Bank of The Bahamas to provide Sand Dollar services through its app.

Rees continued: “We expect to continue efforts internally through the end of the year to enhance the Sand Dollar offerings and services for our businesses and users.… Read the rest

NASSAU, BAHAMAS — Five months after the Central Bank of The Bahamas officially launched the Sand Dollar, local authorized financial institution (AFI) Kanoo has become the first financial institution in the world to have it completely integrated into its system, allowing for interoperability.

Company officials believe this capability proves its commitment to ensuring all Bahamians have access and the ability to transact using Sand Dollars.

Kanoo Chairman and Co-Founder Nicholas Rees said this offering is not only something Bahamians can be proud of but one they can all benefit from no matter where they live.

“This milestone sets the foundation for an open digital payment system and framework for Sand Dollar adoption nationally,” he revealed.

“Kanoo merchants and users were the world’s first to be enabled with direct access to Sand Dollar transactions and accounts through Kanoo’s app and business services. Our users can now transact those Sand Dollars with any other Sand Dollar user outside of the Kanoo ecosystem, including customers of any other authorized financial institution.”

The Central Bank launched its Sand Dollar initiative in December 2019 on Exuma. Since then, Kanoo has been committed to fully integrating Sand Dollars throughout the entire ecosystem, beginning with merchants receiving Sand Dollar payments.… Read the rest

A Bahamian digital payments provider yesterday said it expects its near-20,000 client base to “increase exponentially” after enabling them to transact in Sand Dollars without any restrictions.

Keith Davies, Kanoo’s chief executive, told Tribune Business it had beaten the Central Bank’s “interoperability” deadline for the Bahamian digital currency by a month with its clients able to transact in Sand Dollars with customers of other providers as of today.

Arguing that The Bahamas was achieving “a world first” through the Central Bank digital currency, and “we need to beat our chest a bit more” on the country’s digital payments transformation, Mr. Davies said that prior to achieving “interoperability” or systems integration Kanoo customers were only able to transact in Sand Dollars with one another. “What we have done is set up our system such that anybody from any authorised financial institution (allowed to provide Sand Dollars), whether they are coming into Kanoo or Kanoo customers are going out, can transact in Sand Dollars,” he told this newspaper.

“All our merchants can receive payments from all and sundry who have a Sand Dollar card now or in the future. You don’t have to worry about driving yourself out of business. The Central Bank had set a deadline of the end of March, and we beat it by a whole month.… Read the rest