By Tom Phillips[1] • • Updated • nfcw.com[2]
Consumers in the Bahamas can now authorise in-store payments using the country’s Sand Dollar central bank digital currency (CBDC) from a SunCash[3] mobile wallet with their face.
Once they have registered for the service by linking their SunCash account to the PopPay face verification platform, users can complete transactions at the point of sale with merchants supporting SunCash payments “even if the consumer does not have a functioning smartphone or an internet connection […] as is the case for thousands of Bahamians”, the mobile wallet provider says.
“A face pay option is an important feature for any country with the goal of increasing financial inclusion with the adoption of a CBDC, as those that are unbanked, under-banked, or without smartphones or reliable internet tend to be the most vulnerable parts of society,” biometric technology provider PopID[4] adds.
The Central Bank of The Bahamas launched the Sand Dollar digital currency[5] in October 2020 and enabled consumers to load their CBDC digital wallet directly from their bank account[6] in May 2021.
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