by Sandor Panton
Later today, at Wealth Magazine’s Corporate Mingle business networking event, FirstCaribbean will launch its brand new Visa Debit Card product, and although they’ve seemingly been focusing more on their mobile banking product (which will also be launched tonight), as my friend Colin Scott had first highlighted to me recently, the introduction of FirstCaribbean’s Visa debit card looks likely to be a major coup for Ecommerce (online shopping) in Jamaica.
As we all know, a key requirement for shopping online is for the buyer to have a credit card to pay for the product or service, but prior to now, the requirements (minimum salary etc.) for having a credit card were largely restrictive for the vast majority of Jamaicans. I look forward to hearing the terms by which persons will be able to get this new Visa debit card, and if they are not as restrictive and mainly require the funds to exist in the card holder’s chequing or savings account, then it’s likely that many more Jamaicans will be able to shop online. More