CBS shares digital payment methods with businesses on inner islands |14 August 2018

The Central Bank of Seychelles held the second in a series of public open discussion on Praslin last Saturday in commemoration of its 40th anniversary.

The event which saw the involvement of around 20 individuals including the deputy Speaker of the National Assembly Ahmed Afif, members of the National Assembly Churchill Gill (Baie Ste Anne) and Wavel Woodcock (Grand Anse) as well as representatives from various sectors such as the tourism industry, banks, exchange bureaus, boat charters, agriculture, and information communication technology was held at the Oasis Hotel.

It was Central Bank of Seychelles (CBS) governor Caroline Abel who welcomed the delegates, who were mostly from the inner islands, to the event which was entitled ‘Digital payments – a cash-lite society’.

In her address, Ms Abel explained the role of the CBS in ensuring that the population is well informed and equipped to make good financial decisions; all this in attaining its mandate of ensuring the country’s good financial stability.

She also shared the significant increase in the use of digital payment methods of online, ATM and POS payments.

This was followed by a presentation of the various digital payment methods available by Liz Julienne, director of financial inclusion and market conduct division, and the various security measures associated with digital payments by Jude Woodcock, chief information officer of the governor’s office.

The delegates then had the opportunity to clear their doubts and share their views to a panel of CBS’ senior management.

“We are conducting this series of talks based on topics which shall be beneficial to the general public.  We are shedding light on new elements which we are planning to introduce in the near future and on which we wish to receive their feedback and suggestions. Will they agree with the direction in which we are contemplating to move forward in? This is also an opportunity for us to measure the public’s knowledge in view of digital payments. It is clear from our discussions that the public on the inner islands realise the importance of digital transactions and that it will keep increasing. However, it was pointed out that in order to move forward, we should review the internet efficiency and rate as well as increase sensitisation on the different digital payment facilities available locally,” Ms Abel shared.

Text: Nadia Bédier

Photos: Romano Laurence