THE NATIONAL CASHLESS SOCIETY RESEARCH PROJECT
Members of the T&T IFC joined His Worship Kennedy Richards, Mayor of Point Fortin as he launched the Cashless City Initiative on Tuesday 14th January 2020. The Mayor plans to make Point Fortin the first cashless borough in T&T and hopes to facilitate this by providing city-wide Wifi and the distribution of WiPay payment terminals to vendors throughout the borough. As part of this initiative, WiPay and the T&T IFC will also be conducting the National Cashless Society research project to assess consumers’ demand and receptiveness to a cashless society in T&T.
The project will see cash-only businesses in the borough, such as food vendors, taxis, hair and nail salons, barbers and so on, being provided with smart terminals to accept payments via debit and credit cards, eliminating the need for cash. WiPay will provide the terminal hardware and software solution to accept card payments as well as the data capture and analytics required for the project. It is our hope that the data will give more insight into whether the general public would willingly use the option of making a digital payment if given the opportunity.
