Rawdon Adams, Chief Executive Officer of Bitt, parent company of mMoney, was a panelist at the 2018 BimTech Digital Forum, held on November 16th, 2018. Among the key topics addressed, was whether Barbados possessed the talent and resources to provide the high level of security needed to facilitate digital payments on mobile devices. Barbadians have a long history of walking, drinking, swiping and clicking to acquire the products and services they need.  Mobile payment technology, being relatively new to Barbados, has been met with anxiety about the security of the platform.

All about foresight

So, what is mMoney doing to address concerns of security in the digital space? Adams shared that, “in anticipating the needs and concerns of Barbadian consumers, mMoney sought the counsel of international third parties to ensure that the security of the local app adhered to international best practices. We endeavoured to be as good as, or even better than the best, well before the industry was locally regulated”.

Bank-level security

Jake Mallory, Chief Technology Officer of the mMoney app, assured that “mMoney, maintains bank-level security standards. We have been audited and tested by international third parties to ensure that our local mobile payment app is compliant with the practices of the global payment networks”.

What can you do?

Tania Longeau, of Payments Journal, suggests starting with a strong password and educating your family (especially the young and the… young at heart) about cyber security best practices. Ultimately, just as with your bank PIN, your email address and other highly sensitive personal information: do not share your mMoney login information with others and store it independently (just in case).

Your mMoney Team