NASSAU, BAHAMAS — The Central Bank has revealed that the its original SandDollar mobile wallet is undergoing a "facelift" to create a smoother interface and promote a better user experience, with a public release expected in September.
In its recent SandDollar update, the regulator noted that during the month of June it continued its SandDollar outreach across New Providence and North and Central Andros. Activities in New Providence featured the initial iteration of the SandDollar rebate program, beginning with Super Value and Quality Supermarkets. Additionally, technical developments, allowing top-ups to any SandDollar-enabled mobile application from domestic bank accounts, were completed.
The regulator further noted that it has completed developments allowing all SandDollar wallet holders to top-up their wallets from commercial bank accounts via online banking domestic transfers.
"This feature is available for all SandDollar-enabled wallets and, therefore, includes basic, premium, and merchant wallets published by Cash 'N Go, Island Pay, Kanoo, MobileAssist, MoneyMaxx, OMNI Financial Services, SunCash Bahamas, or the original SandDollar app published by the Central Bank," the Central Bank noted.
"The Central Bank's original SandDollar mobile wallet is undergoing a facelift. The smoother interface will include new features and promote a more pleasant user experience. The enhanced mobile app will provide a number of self-service tools, ranging from self-onboarding to secure wallet recovery. An optional memo field has been added, which allows additional transaction details—aiding reconciliation. The updated SandDollar app will feature a list of frequent contacts with whom wallet holders regularly transact. The Central Bank anticipates a public release in September 2023."
According to the regulator, the initial team of SandDollar Ambassadors, recruited to assist with outreach efforts in New Providence, has been selected. The group will undergo training before initial deployment later this month. Ambassador recruits from Grand Bahama and the Family Islands are expected to be identified and deployed shortly after. SandDollar Ambassadors will offer merchants and consumers on-demand assistance with the use of SandDollar through various platforms.
According to the Central Bank, there are $1,093,373.71 Sand Dollars currently in circulation, nine approved digital wallet providers of which seven are active. There are 106,147 consumer wallets and 1,608 merchant wallets.
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