Bitt and WiFetch have signed an official agreement to ensure that mMoney is recognized as the preferred means of payment for WiFetch contactless shopping and delivery service.

Created as a response to help curb the spread of COVID-19, WiFetch offers a one-stop shop to order and quickly deliver essential products, including pharmaceuticals, to customers and businesses.

The Memorandum of Understanding was signed on April 15th, 2020 and will facilitate the integration between mMoney’s digital payments network to WiFetch in Barbados initially, with plans to expand in the Eastern Caribbean and beyond, given Bitt’s Digital Eastern Caribbean Dollar pilot.

According to a recent press release announcing a partnership between WiFetch and the UNDP, the UNDP’s policy for Barbados and the region, encourages new digital strategies to accelerate the switch to e-commerce, alternative ways to (pay) and safely deliver goods during this time, so that the economy continues to move forward.

According to Chief Executive Officer of WiFetch, Lily Dash, “mMoney comes as a breath of fresh air in these restricted times, and has proven to be a catalyst for us at WiFetch. The utility of mMoney is interoperable, and does not discriminate based on bank account. The mMoney app is free and easy for our staff, partner merchants, and customers to download; and within minutes we can facilitate transactions based on our contact lists already stored in our smartphones.”

In speaking about the timeliness of this agreement and looking to their future plans, Dash continued, “We have a strictly ‘no cash’ policy at WiFetch, in keeping with our health and safety mandate of contactless deliveries. We must build a digital eco-system for the future of trade in the Caribbean. mMoney has already built the foundation and the critical infrastructure that facilitated our speed to market.”

WiFetch will offer this remote shopping and delivery service to other markets in the Eastern Caribbean within the next three months, and has signed an agreement with the UNDP to facilitate this expansion. WiFetch represents the first-of-its-kind platform in the Caribbean, where micro-small-and-medium enterprises can reach their customers via a new channel — online ordering and delivery — opening up a whole new market to these producers, from fisherfolk to manufacturers and distributors. WiFetch is therefore similar to Amazon in that regard.

During the signing of the MoU, Marla Dukharan – Chief Economist of Bitt, explained how WiFetch can extend their digital payment option across the Caribbean, “The Bitt and WiFetch partnership comes at an ideal point in time. Bitt is in the final stages of the development of the Digital Eastern Caribbean Dollar (DXCD). This will enable WiFetch to accept DXCD for their remote shopping and delivery services within the islands of the Eastern Caribbean Currency Union (ECCU).”

About WiFetch: WiFetch provides contactless shopping and delivery of a wide range of products to its customers and business clients. The WiFetch ethos is simple: ‘Whatever you need, WiFetch, WiDeliver!’

About Bitt Digital Inc.: The Bitt group of companies has positioned itself at the forefront of financial innovation in Barbados, and the wider Caribbean. Bitt has leveraged blockchain and distributed ledger technology to create the most efficient financial services ecosystem to date.

Your mMoney Team