Grace Kennedy goes after mobile money

JAMAICA – Grace Kennedy among seven applicants to have so far sought authorisation to become electronic retail payment service providers. The conglomerate, which owns a bank and the largest remittance business in Jamaica, aims to be a first mover with technology, such as mobile money, which is expected to revolutionise the financial sector. “First Global in collaboration with Grace Kennedy has the intention to get into the wallet of mobile money services,” said Don Wehby, GraceKennedy’s group CEO. “What is clear is that a large percentage of our population don’t have bank accounts. We believe there is a huge opportunity for mobile banking.” More