Kanoo looking to surpass 100K users by year’s end

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.

“Kanoo is the only financial institution that is fully integrated and interoperable with the Sand Dollar infrastructure. This is a testimony to our team’s core focus on the security and robustness of the platform.”

He added: “We anticipate significant further adoption of our services by the end of 2021, with growth trends projected to surpass 100,000 users before year-end.

“Due to the high growth trends, we are now just focused on enhancing the value we bring to the merchants and consumers using our digital technology services as we have already built the systems for scale.

“Year-end trends also look promising for deeper customer adoption of our marketplace, digital customer engagement, and payment platforms.”

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