PopPay Platform Expands to Government-Backed Digital Currency

“PopPay’s advanced technology provides a more user-friendly, seamless and secure experience for SunCash users,” said Desmond Pyfrom, CEO of SunCash. Existing applications for conducting digital sand dollar transactions generally require consumers to use smart phones, QR codes, or various other codes to complete a point-of-sale transaction. “With the integration of the PopPay platform into the SunCash app, Bahamian consumers can now quickly, efficiently, and securely use the digital sand dollar to purchase food and other goods, even if the consumer doesn’t have a working smartphone or an internet connection,” Pyfrom said, as do thousands of Bahamians.1

The world is rapidly moving towards central bank digital currencies, accelerated by the Covid-19 pandemic and the growth of cryptocurrencies. By 2022, fourteen countries have launched CBDCs or are in advanced pilots, and about 90 countries, representing more than 90% of global GDP, plan to issue CBDCs, according to the Atlantic Council.

the Bahamian was the first country to launch a CBDC when it rolled out the Sand Dollar nationwide in October 2020. Under this program, a limited number of supervised financial institutions have been authorized to sponsor a mobile payment wallet for the digital dollar of the Bahamian. SunCash was one of the supervised financial institutions licensed by the Central Bank of Bahamian.

“The PopPay platform is designed to allow consumers to link any payment method to their face, including credit cards, debit cards, direct bank transfers, stablecoins and CBDCs,” said declared John Miller, CEO of PopID and chairman of its holding company, Cali Group. “As governments around the world increasingly implement CBDCs to replace physical cash, PopPay serves the critical policy purpose of ensuring everyone can transact with the currency.”

“We commend SunCash for rolling out this solution that allows Bahamians to transact sand dollars using only their face,” said John RolleGovernor of the Central Bank of Bahamian. “These security features are important for increasing personal convenience around using digital payments and advancing the Central Bank’s goal of increasing financial inclusion across all segments of our society.”

A face payment option is an important feature for any country in an effort to increase financial inclusion with the adoption of a CBDC, as those who are unbanked, underbanked, or without smartphones or reliable internet tend to be the most vulnerable parts of society. .

Keith Russel of AD+ECH GLOBAL facilitated the partnership between PopID and SunCash.

About PopID
PopID provides a comprehensive platform, PopPay, to revolutionize digital interactions and payments using facial verification. PopPay gives consumers the ability to identify themselves in the most natural way possible – with their face – for ordering and payment – enabling more personalized, secure and streamlined experiences. To learn more about PopPay, visit www.popid.com

About SunCash
SunCash is the largest provider of digital payments, mobile money and e-commerce services in the United States. Bahamian. SunCash’s proprietary technology provides financial solutions to all segments of society, including banked, underbanked, and unbanked Bahamians, as well as non-resident populations of the United States. Bahamian. SunCash has over 55,000 active wallet customers, which is about 1/7and of the total population of La Bahamian, and more than 1,000 merchants who accept SunCash payment solutions. Customers can also access SunCash services online, through the SunCash app, at local stores or from more than 100 kiosks across The Bahamian. SunCash is licensed by the Central Bank and the Securities Commission of Bahamian. To learn more about SunCash, visit www.mysuncash.com

PRESS CONTACT:
Diane Zuniga
Golin (for PopID)
[email protected]; (909) 510-0433

1 Simon Kemp, “Digital 2022: the Bahamian” (Képios 2022), https://datareportal.com/reports/digital-2022-bahamas.

SOURCE PopID

Sylvia B. Polson