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More Jamaican Mobile Money Products Coming

Victoria Mutual Building Society (VMBS) says it is now conducting a Jamaican mobile money pilot with technology provider Advanced Integrated Systems (AIS) and its American partner Quisk. JMMB and Lasco Financial Services Limited (LFSL) are also in talks with AIS and Quisk to use their cloud platform to launch their offerings; while conglomerate GraceKennedy Limited is in the second month of its own pilot. President and CEO of VMBS Courtney Campbell said the building society is to submit its request to the Bank of Jamaica (BOJ) for approval for its mobile product. The building society said it began testing its offering in December 2015, but was not "willing to share when the pilot ends". Remittance and foreign exchange trader Lasco Financial Services said its mobile money plans are in the "preliminary stages". More