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Sagicor Bank joins Digicel Group, Mastercard for official launch of MyCash

Published:Sunday | August 26, 2018 | 12:00 AM
Christopher Zacca (centre), Sagicor Group Jamaica president and CEO, and Digicel MyCash chief strategy officer Fabian Williams (left) show off the new Sagicor Bank MyCash prepaid Mastercard to Minister of Finance Dr Nigel Clarke during a courtesy call ahead of the official launch of the product last Friday. The new product is a partnership among Sagicor Bank, Digicel and Mastercard.

Sagicor Bank, Digicel Group, through its subsidiary Prism Services Jamaica, and Mastercard will today officially launch its new innovative product - MyCash, a prepaid Mastercard and mobile app that work together to help customers manage their money, make payments and transfer funds both locally and from the United States for less.

Christopher Zacca, Sagicor Group Jamaica president and CEO, said he was very pleased that after a successful pilot phase, Jamaicans could now access and enjoy "a truly revolutionary product that will help them better manage their money".

"At Digicel, we want to help create a world where no one gets left behind. This partnership with Sagicor Bank and Mastercard sees everyone, from all walks of life, being able to access a truly innovative financial service and being able to manage their money effectively, both here at home and in the US," said Fabian Williams, chief strategy officer at MyCash, Digicel.

MyCash is said to be the first of its kind in the market, with no sign-up fees, no need for a bank account, no tedious application form and no credit checks.

 

More control

 

With the MyCash mobile app and accompanying prepaid Mastercard, customers have control of their money from the palm of their hands. While the card is free to activate, there are minimal transaction fees.

"We are glad to offer the power of our network, the strength of our brand and our technology expertise to help bringing this project to life" said Marcelo Tangioni, territory nanager for the Caribbean at Mastercard.

"Projects like these support our vision of a world beyond cash," Tangioni added.

MyCash allows customers to conduct transactions conveniently, and can be used anywhere in the world that accepts Mastercard. It has the added element of safety as it takes away the risk of carrying around a lot of cash.

The prepaid card can be used at any point-of-sale location in Jamaica and 50 million locations in 210 countries worldwide; customers can also shop online and have 24/7 access to their cash from more than 400 ATMs across Jamaica.

In addition, with the MyCash app, persons can send and receive money locally and in the United States instantly with the MastercardSend feature.