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Mango Card New Bahamas Payment Alternative
A cashless alternative for Bahamians is catching on well with Bahamians according to an executive of the Mango Card company. According to Chief Executive Officer for Mango Shaker Rawan, over 8,500 customers have subscribed to the service and more than $800,000 worth of economic activity has occurred since the card’s launch at the start of the year. Rawan told The Nassau Guardian yesterday that part of the reason why the card has become popular among locals is because of its multi-purpose use, which gives it an advantage over other competitors in the market. "From the consumer perspective is our ability to package a lot of services on the same product, so those kinds of valuable services the other [card companies] cannot offer because the platforms are not really owned by them," Rawan said. "We provide a lot of valuable services for the consumer that they need to use, so the basket of services is much more wider."

Similar to a debit card -- minus going through the bank’s process to activate it -- Mango customers have the ability to perform various tasks with their card, including payroll, insurance claims, money transfers and retail shopping. Rawan mentioned that around 250 vendors are using the services and "a growing number" of persons have expressed interest.  He also said a sales team of 12 people are currently deployed to conduct training and demonstrations for merchants and customers, with the overall response being positive.  Static locations are also in the works, so that more convenience is created for consumers.

Despite all the progress, the Mango CEO said managing the rapid growth is key.

"We are growing quite fast but at the same time we are managing the process to make sure we don’t get overwhelmed with the number of customers and merchants," he said.

Rawan mentioned that the company has long term plans of expanding into the Family Islands, also aiming to double the number of employees over the next couple of years.  They are also targeting the U.S. and other countries in the Caribbean in the next 12 to 24 months to use Mango cards for their transactions. "Plans are already in progress and we have partners on the ground that will be working with us to deploy Mango," he said.  "We want to make sure that we finish with the deployment in The Bahamas first.  The Bahamas is our launchpad and our contribution to the economy and the local workforce will be substantial... so it’s very important to make sure that we get The Bahamas environment very right."

Source: http://www.thenassauguardian.com/index.php?option=com_content&view=article&id=11974:mango-card-service-ripe-among-bahamians&catid=40:business&Itemid=2


Websoft Written on Wednesday, 10 August 2011 11:29 by Websoft

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