FiX24 to focus on future of payments and commerce

The Future of Commerce and Payments Innovation are among the nine thematic 'deep dive' content tracks that will be explored when financial technology (fintech) experts and enthusiasts gather in Barbados from January 24–26, at the Sam Lord’s Castle Wyndham Grand Barbados, for Fintech Islands Experience 2024 (FiX24).

From the smallest main street storefronts to gig economy marketplaces to global e-commerce giants, fintech solutions are enabling the future of where, when and how people shop. At the same time, powered by cryptocurrency, mobility, social networks, and new real-time solutions, the next chapter for digital payments is transforming business and providing more efficient, low-cost options for consumers.

During the COVID-19 pandemic, because of restrictions on movement, many businesses in the Caribbean adopted e-commerce solutions and contactless delivery services to reach both local and international markets. Co-founder and CEO of Fintech Islands, Allison Hunte, noted that over the last few years, businesses have thrived in this new fintech-driven commerce ecosystem. “From small boutiques in Trinidad in the south to agribusinesses in Jamaica in the north, companies are expanding their reach through online marketplaces and digital storefronts,” Hunte explained.

The Fintech Islands CEO added, “Regionally, entrepreneurs are taking advantage of digital technologies to expand their businesses beyond their immediate geographical boundaries, catering to niche markets and providing unique products. With the help of fintech solutions, businesses can now conduct secure online transactions and reach a wider range of customers locally, regionally and internationally.”

The adoption of these tools in the Caribbean will be at the heart of the discussions during the deep dive sessions on the future of commerce and payments innovation during FiX24. Experts for these sessions include Mastercard's director of Caribbean Fintech Digital Partnerships, Icelsa Diaz; First Atlantic Commerce CEO, Christopher Burns; CellPay Corporation chairwoman, Pascale Elie; TT RideShare executive chairman, Dwight Housend; Girasol founder and CEO, Marwan Dean Rozier; Payce Digital CEO, Alison Browne-Ellis; Interledger Foundation executive director, Briana Marbury; the Location-Based Marketing Association's founder and chairman Asif Khan; and ZeePay's Barbados country manager, Felicity Luktuka Jaforktuk.

Through innovations in payment technology, such as near-field communication and QR code payments, there is a progressive shift towards a cashless society and democratised access to financial services.