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A Bahamian digital payments provider yesterday said the COVID-19 pandemic has helped it exceed first-year expectations “by almost 100 percent” as it targets 50,000 active users by 2020 year-end.

Keith Davies, Kanoo’s chief executive officer, told Tribune Business that while he “would never have wished COVID-19 on anybody,” the circumstances created by the pandemic had produced an “exponential increase in demand” for the electronic payment services facilitated by the company’s app-based product.

Yet while the virus has accelerated The Bahamas’ transition towards the 21st-century digital economy, Mr. Davies warned that this nation must “move faster” and be more “aggressive in our approach to implementing digital solutions” for a wide range of consumers needs and problems – especially when it comes to accessing government services.

The Kanoo chief, who is also the Bahamas International Securities Exchange’s (BISX) chief executive, said the company had already shown how it could assist in this area by providing “seamless” digital vouchers to persons enrolled in the Department of Social Services’ food assistance programme.

He added that it was fulfilling a similar service for non-profits and non-governmental organisations (NGOs), has issued 650 cards simultaneously through “the push of a button” to beneficiaries of Hands for Hunger’s aid via their mobile phones.… Read the rest

NASSAU, BAHAMAS — A Bahamian digital payments provider has seen 50 per cent of the businesses currently on its platform register during the COVID-19 pandemic, with over 7,000 users in its system.

Scieska Adderley, Public Relations and Communications Manager at Kanoo said: “As a company, we’re excited and proud to say that more than 140 businesses have registered with Kanoo since our December 9th launch.

“And of that number, 50 percent of them signed during COVID-19. These also include churches and non-profit organizations that have spearheaded relief efforts through The Bahamas using our platform.”

She said: “This pandemic negatively impacted us as a country, but, as a digital payments company, we’ve given the public a safer, easier, convenient cashless option for them to continue their business operations and transact on.”

According to Adderley,​ there are currently over 7,000 users in Kanoo’s system, a number which continues to grow.

“Due to COVID-19, the number of transactions has increased by 1,700 percent, going from a few hundred monthly to several thousand.”

Adderley continued: “The company’s mandate is to make life easier for all Bahamians, and that means no matter where they reside throughout the archipelago. Residents in Inagua should have access to their money the same way ​those living​ in New Providence, and Kanoo provides that capability.… Read the rest

A Bahamian digital payment solutions provider has launched its platform in Grand Bahama through the five-store Express Food Mart chain.

Kanoo, a Grand Bahama Port Authority (GBPA) licensee, has launched a platform that can assist businesses and customers in cashless, card-less digital wallet transactions that limit physical contact. “The world is changing and we want to be on board,” said Shauna Taylor of Express Food Mart. “The Kanoo app is a digital cash card. It’s brand new, and we are the first in Grand Bahama to accept it.”

GBPA executives hailed Kanoo’s platform as an example of how Grand Bahama businesses are evolving to meet changing customer needs amid the ongoing COVID-19 pandemic. The noted that digital wallets reduce contact during purchases, and alleviate the need to carry cash.

“The ways in which Freeport’s businesses have quickly and responsibly adapted their operations to meet the needs of customers has been remarkable,” said Ian Rolle, GBPA president. “Conducting business in a way that inhibits the spread of viruses like COVID-19 is critical to the success of all businesses and is required for the safety of all residents, today and in the future.”

Highlighting the benefits of Kanoo’s app for businesses and customers, Mr.… Read the rest

In tonight’s edition of his weekly Diversification: The New Economy report, Eyewitness News’ Theo Sealy discusses technology and the role it plays in today’s society.

Your favorite Bahamian digital wallet is one of several entities featured in this special news report.

Watch the video below.

https://www.youtube.com/watch?v=bTt6Enp9QVI… Read the rest

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The nationwide lockdown has exposed the lack of a digital strategy for many companies that are now facing difficulties today because of the sudden change in the way they now have to conduct business in this new environment, CEO of Kanoo Keith Davies said yesterday.

In fact, Davies said Kanoo, a digital payment solution launched in December, has seen an influx of delivery businesses seeking to jump on board with the tech company to expand their service offerings since the prime minister imposed a 24-hour lockdown.

“Since the emergency order, many companies have reached out to us,” he said.

“They have signed up on the spot to begin accepting digital payments and become a part of the Kanoo business ecosystem. Unfortunately, it took a crisis before many companies started thinking about alternative ways to engage their customers, and quite frankly, some may not survive.

“But, I am comforted that we have been able to help many companies make the pivot and adapt their business model to integrate their products and services onto the Kanoo platform, which has then resulted in actual sales for those companies.

“One noticeable example we can point to is the fact that all the delivery businesses we are seeing coming to the forefront have already approached Kanoo to accept Kanoo’s digital payments, and we are actively adding them to our platform.”… Read the rest

[vc_row][vc_column][vc_video link=”https://www.youtube.com/watch?v=KtUDS3_jm3c&t=49s”][vc_empty_space height=”20px”][vc_column_text]Just days before the government announced a lockdown in an effort to stop the spread of the COVID-19 virus on our shores, one of our trusted merchants Cheesecake Heaven, along with our CEO Keith Davies speaks with ZNS’ Crystal Darling on the benefits of conducting cashless transactions before, during, and after this pandemic.

Take a look at what they had to say.[/vc_column_text][/vc_column][/vc_row]… Read the rest

[vc_row][vc_column width=”1/2″][vc_column_text]NASSAU, BAHAMAS — A Bahamian digital payments provider says it has seen a significant spike in transactions on its platform and downloads of its application in recent weeks.

Nicholas Rees, chairman, and co-founder of Kanoo, predicted that by year’s end, over 40,000 users and 1,000 merchants would be on-boarded.

He told Eyewitness News that the company began seeing an uptick in activity on its platform in March.

“We did a soft launch back in December with not much promotion and had been working out the kinks with vendors and users,” he said.

“Our number of transactions from the beginning of April has increased by 30 percent over the entire month of March. Our payment volumes in the first seven days of April have gone up 47 percent over the entire month of March. Our app downloads are up 50 percent, and we now have a download rate of one new user every five to 10 minutes. We have been able to expand our network through New Providence, Grand Bahama, Exuma, and Long Island,” Rees explained.

He added: “It’s been a very insightful time for us. One of the things that were really exciting for us was the fact that during a countrywide shutdown, we were able to enable one of our merchants Cheesecake Haven who utilized our digital platform to sell out of inventory within two days.… Read the rest