Thursday 15 November, 2018

Sagicor, Digicel and Mastercard launch new prepaid card, MyCash

Fabian Williams, Digicel Group Chief Strategy Officer for MyCash (left), Sagicor Jamaica Group President and CEO Christopher Zacca (centre) examine the new MyCash card with Finance Minister Dr Nigel Clarke (right).

Fabian Williams, Digicel Group Chief Strategy Officer for MyCash (left), Sagicor Jamaica Group President and CEO Christopher Zacca (centre) examine the new MyCash card with Finance Minister Dr Nigel Clarke (right).

With a vision of transforming financial services in Jamaica and breaking down the barriers to financial inclusion, Sagicor Bank, Digicel Group (through its subsidiary Prism Services Jamaica), and Mastercard have teamed up to launch MyCash, a prepaid MasterCard branded card and mobile app that work together to help customers manage their money, make payments and transfer funds both locally and from the USA for less.

Christopher Zacca, President and CEO of Sagicor Group Jamaica, noted that the partnership with Digicel Group (through its subsidiary Prism Services Jamaica) and Mastercard is a game-changer for the Jamaican market with the development of the MyCash product.

“We at Sagicor, along with our partners, Digicel Group (through its subsidiary Prism Services Jamaica) and Mastercard, are delighted to be providing this innovative and unprecedented level of customer convenience to our Jamaican consumers, both here at home and in the USA; MyCash is not only revolutionary in how it works, but the beauty of this product is that it is suitable for everyone,” Zacca added.

The first of its kind in the market, there are no sign-up fees, no need for a bank account, no tedious application form and no credit-checks; 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.

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 over 400 ATMs across Jamaica. Plus, with the MyCash app, persons can send and receive money locally and in the USA instantly – with the ground breaking Mastercard Send feature.

According to Fabian Williams, Digicel Group Chief Strategy Officer for MyCash: “With the combined strength of the Digicel, Sagicor Bank and Mastercard brands and capabilities, our MyCash product offering is second to none. We are very excited to be bringing something unique and unparalleled to the Jamaican market and proud to be opening up a world of opportunities for Jamaican consumers.”

“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” says Marcelo Tangioni, Territory Manager for the Caribbean at Mastercard.

“Projects like this support our vision of a world beyond cash."

To apply for a MyCash prepaid Mastercard, persons simply download the MyCash app and register, visit any of the 16 Sagicor branches island-wide to validate their ID, collect their MyCash card, add cash to the card and they are on their way to managing their money. MyCash has been successfully piloted over the last few months and is now available to the public.

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