How Sagicor Bank's SWYPE challenges QUISK, GK MPay for Mobile Money Dominance

“Sagicor Bank is committed to always finding new and innovative ways to improve our clients' lives and with the launch of SWYPE, not only are we having a direct impact on the growth and development of the SME sector, we are also helping to build the economy”

Sagicor Bank CEO Chorvelle Johnson commenting on the launch of the SWYPE

Jamaica will not be the same again as Mobile money now has a more pragmatic competitor.

I’m of course referring to the launch of SWYPE on Monday June 18th 2018 by Sagicor Bank as reported in the article “Sagicor Bank Launches Mobile Point-Of-Sale Machine, SWYPE”, Published Monday June 18, 2018, The Jamaica Gleaner.

The SWYPE is Sagicor Bank's MPOS (mobile point-of-sale machine) as described in their handy SWYPE User Guide located on their dedicated SYWPE Webpage.

More importantly, it’s a compact portable card reader that works with Android phones and tablets, allowing the merchant to accept debit and credit card payments.

Here is a nice video that explains it benefits nicely.

This is very similar to the Square point-of-sale machine I'd described back in my blog article entitled “VISA and Jack Dorsey's Square - Leena's TechCrunch of SME's Mad Money”

So how does this empower Mobile Money in Jamaica?

Sagicor Banks' SWYPE - How to do Debit and Credit Card Transactions

Jamaica is in need of Electronic Cashless Payment options.

Cashless trade is on the increase, according to stats from the BOJ (Bank of Jamaica) as noted in the article “Sagicor Bank Launches SWYPE For Mobile Payments”, Published Sunday July 15, 2018 by Avia Collinder, The Jamaica Gleaner. 

The BOJ reported in their 2017 annual report that:

1.      14 million was the volume of POS (point of sales) transactions processed on POS terminals.

2.      JA$78.6 billion was the value of these transactions

This as not only are Electronic and Cashless Transactions more secure, but they can help to fight corruption and make the collection taxes more efficient as argued in my blog article entitled “How Electronic Transactions in Jamaica can eliminate Hidden Economy via Universal Consumption Taxation”. 

The machine accepts MasterCard, Visa and Multilink cards. It connects via Bluetooth with any Android smartphone or tablet and transactions are handle via the free mcsPAY App available for download in the Google Play Store.

Then you just follow the instructions as laid out in in their handy SWYPE User Guide located on their dedicated SYWPE Webpage. It you prefer, you can watch the video below and learn more.

Clearly this will initially accept Sagicor Bank Debit and Credit Cards, but hopefully, they’ll expand that to any Debit or Credit Card on the Multi-Link system. This is definitely going to be a hit with both customers and business owners as they're benefit from the ease and convenience of completing a sales transaction without cash.

So who exactly will benefit from Sagicor Bank's MPOS?

Sagicor Banks' SWYPE Benefits - MSME's convenience for Customers

Taxi men and Bus conductors might resort to using this device, especially if they have to plan large excursions such as School trips to historical sites as explained in my MICO Wars blog article entitled “Our Story Tours – Jamaican Historical Tours for Schools and Tourist Groups”. 

With the security and convenience of cashless becoming a global trend, Sagicor Bank had to be a part of the action as Sagicor Bank CEO Chorvelle Johnson points out, quote: “As we become even more modernised and technological advancements improve, Sagicor Bank remains on top of its game with respect to providing products and services of the highest quality for our clients”.

It'll be of greatest benefit to MSME (Micro, Small and Medium Enterprises) as they can now handle Credit and Debit Card Transactions instead of just Cash transactions as pointed out by Chorvelle Johnson, quote: “For example, a large distribution company with sales agents or a food stall operator could use this device to increase their earning potential by accepting card payments. Individuals can also apply for Sagicor Bank’s SWYPE; however, specific terms and conditions apply”.

Merchants subscribing to use the device will pay a fee per transaction, as well as a monthly rental fee, which is automatically deducted from the merchant's account at the beginning of every month.

Vendors toting SWYPE may not be happening anytime soon, as its still way easier to use QUISK or GK MPay as noted in my Geezam blog article entitled “Quisk heralds e-commerce Micro-Transactions for Jamaican Entrepreneurs”.

So what are the advantages of SWYPE over Mobile Money?

The advantage of SWYPE – Established Credit and Debit Card usage in Jamaica

SWYPE does have a leg up on QUISK or GK MPay; the customer merely has to use their Credit or Debit Card.

Credit and Debit Card usage, albeit small, is already well established in the banking world and among their many customers who use this convenient form of cash. It also a lot easier to meet the customer half-way, being as it is less cumbersome and potentially more affordable and easier to set up than a QUISK or GK MPay account.

It however, lacks the security of blockchain, as your Debit and Credit Card can still be stolen, one they have the tech to intercept Bluetooth Transmissions and thereby capture your Debit or Credit Card.

Still, this is mutually beneficial to MSME such as Taximen and potentially Vendors, why may decide the learning curve is worth the risk in order to increase their sales.

Here's the link for more info on Sagicor Bank's SWYPE:

Sagicor Bank's SWYPE

mcsPAY App Store Sagicor Bank SWYPE on the Google Play Store

SWYPE User Guide

BSJ's NCRA Standardized packaging of Flour and Rice heralds more packaged products

“A good package should provide a barrier against dirt and other contaminants, thus keeping the product clean. It should protect food against physical and chemical damage, for example, the harmful effects of air, light, insects, and rodents, and it should help the customers to identify the food, instruct them how to use it correctly as well as inform them when it was manufactured and when it expires,”

Director of the Standards Division at the BSJ Mrs. Julia Bonner on packaging standards for rice and flour

So you though only sugar was getting a makeover. The BSJ (Bureau of Standards Jamaica) isn't done yet as they seek to standardize packaging for many common Jamaican staples.

Now they're after rice and flour as pointed out in the article “BSJ Reviewing Packaging Standards For Flour And Rice”, published Monday June 18, 2018, The Jamaica Gleaner.

But first, a look at the packaging of sugar, which is much improved and which I must say is quite welcome. So how did the packaging of sugar get standardized? Will it be the same for rice, flour and cornmeal?

Jamaican Retail of Sugar - Standardized packaging enforced by the BSJ's NCRA

The Jamaican Government had introduced new packaging standards for granulated and brown sugar in July 2017. Since July 1, 2017, all sugar sold to the public has to be:

1.      Packaged

2.      Sealed

3.      Labelled

This prevents retailers from distributing sugar in unlabelled polythene bags, a tradition that many shopkeepers started and larger retailers and supermarkets followed.

Now, the sugar must be bagged at approved plants and conform to labeling standards. The new rules require that packagers be registered with the National Compliance and Regulatory Authority, a unit of Bureau of Standards Jamaica.

So far only six (6) companies have been approved so far to package sugar bound for the retail market:

1.      Caribbean Depot for Jamaica Gold, Golden Grove, and Eve brands on behalf of their respective owners

2.      Cost Club Limited for MegaMart

3.      DK Processors Jamaica Limited for the Diamond Krystal and Paradise brands

4.      Hi-Lo Food Stores for the Hi-Lo brand of brown sugar

5.      Lloyds Manufacturing Company Limited for the May's, Grace and Secrets brands

6.      Palm Rose Limited for Royal Rose

This new packaging is the result of previous work by the BSJ in getting sugar producers to comply with their new guidelines set back in July 2017 as reported in the article “Pre-Packaged Sugar must be Appropriately Labelled”, published June 23, 2017 By Alecia Smith, The Jamaica Information Service.

Not only must all packagers be registered with the NCRA, but as of the revised mandatory standards for brown cane sugar, gazetted on December 30, 2016, which outlined the requirements for labelling, packaging and safety of sugar, possible fines and prison terms are possible.

The Standards Act provides for a fine of $3 million and 12 months in prison for non-compliance with the labelling and packaging standards for sugar sold in the retail market.

The new packaging, which is more secure than just weighing and placing the sugar into plastic bags, also give information on the product as follows:

1.      Product name

2.      Brand name

3.      Net content

4.      Name and address of manufacturers

5.      Name and address of distributors

6.      Name and address of importers

7.      Name and address of vendors

8.      Storage conditions

9.      Country of origin

10.  Lot identification

11.  Date markings

12.  Instructions for use

This information has greatly improved the traceability of the product. So how has this affected the sugar producers? And when will these changes begin to affect rice, flour and cornmeal? And are other products commonly eaten by Jamaicans soon to have their packaging standardized?

BSJ and Standardized packaging – Jamaicans love Packaged sugar

This has, at least in my eyes, made sugar more attractive and safer, as I'd pointed out in my blog article entitled “Why Ministry of Agriculture and BSJ Branded Sugar Packaging and Labelling protects the Jamaican Consumer”

There were some teething pains, mainly to do with producing the packaging, which was expensive, while ensuring that the price of the product remained competitive as noted in the article “Stand Firm On Sugar Packaging And Labelling – Pandohie”, published Monday September 25, 2017 by Mark Titus, The Jamaica Gleaner

The public agrees, as they just couldn't get enough of it as was evidence by the shortage of packaged sugar in August 2017 as noted in the article “Demand For Packaged Sugar Takes Marketers By Surprise - Three Weeks Needed To Cover Shortfall”, published Wednesday August 23, 2017 by Avia Collinder, The Jamaica Gleaner

The distributors of bulk sugar experience a 60% increase in demand for the packaged 0.5 kg of sugar in the new packaging. These main distributors of bulk sugar were as follows:

1.      JCPS

2.      Seprod's Golden Grove Limited

3.      Pan Caribbean Sugar Company Limited

JCPS and Seprod are also suppliers of their own branded retail sugar, with JCPS's retail sugar being packaged by Caribbean Depot Limited. JCPS represents the following sugar factories

1.      Monymusk

2.      Appleton

3.      Worthy Park

JCPS accounts for 55% of the Sugar cane crop and as such get 55% of the market for local sales. At this point a diagram is in order to tie all this info together.

So will it be the same for rice, flour and cornmeal? What other products will possibly have to be properly packaged and labled?

BSJ is Standardizing product packaging - Flour, Rice, Cornmeal and other product on their Radar

A similar relationship between Manufacturers of Rice, Flour and Cornmeal, Packaging companies and Brands would have to be developed to make the process go smoothly.

Of course, consumers will have to be encouraged to buy the packaged products instead of those doled out in polythene plastic bags as emphasized by Director of the Standards Division at the BSJ Mrs. Julia Bonner, quote: “Once the BSJ develops the new standard requirements for these items, it will become mandated through the operations of the National Compliance & Regulatory Authority ()”.

The BSJ and the NCRA are deliberating on the technical standards that need to be implemented to make Rice, Flour and Cornmeal packaged just as safely and traceably as sugar. Consumers will be encouraged to only purchase properly packaged and labled products.

So look out for not only Rice, Flour and Cornmeal to get packaging on part with sugar but also the following products:

1.      Bulla Cakes

2.      Red Herring

3.      Bag Juice

4.      Salt Mackerel

5.      Red Herring

6.      Breadfruit

7.      Cooked Food

8.      Fruits and Vegetable sold by vendors

Hopefully this will involve packaging that is not plastic. Ironically the use of plastic need to be banned from packaging, being as it is creating a serious problem for Jamaica as I’d pointed out in my blog article entitled “How a Ban on Styrofoam, Plastics needs Recycling Initiative to save the Jamaican Environment”.

These are just a few and the last bit with the vendors would require them to form a manufacturing cooperative in order to brand and produce their own packaging. But based on the popularity of packaged sugar, I suspect that Jamaican adoption won't be much of a problem. 

Government of Jamaica ponders E15 in 2020 as World moves toward Biofuels, LNG and Electric Vehicles

“We’re not there just yet (but) I have asked my team at the Ministry and at the Petroleum Corporation of Jamaica (PCJ) to see how best we can increase it,”

Science, Energy and Technology Minister, Dr. the Hon. Andrew Wheatley at the launch of Total Jamaica’s Excellium fuel at the Spanish Court Hotel in New Kingston on May 16.

Jamaican may soon be driving on more ethanol based fuel.

This as the Government may be moving up to 15% or higher ethanol blend by 2020 as reported in the article “Gov’t Considers Increasing Ethanol Blend in Petrol”, published May 18, 2018 By Chad Bryan, The Jamaican Information Service.

The aim is to reduce the carbon footprint of Gas Stations in Jamaica without reducing vehicle performance. Ethanol is offered across the island offer E10 fuel, which is a blend of 10 per cent ethanol from sugar cane in both 90 and 87 octane gas.

However, according to Science, Energy and Technology Minister, Dr. the Hon. Andrew Wheatley, globally it's at 15%. So Jamaica has a bit of catching up to do.

So will this make a real difference to motorists? And what about the introduction of purely E100 vehicles?

E15 in 2020 - Biofuels, LNG and Electric Vehicles should be the aim by 2020

Ethanol is a clean-burning, high-octane fuel based on a rather elegant organic molecule. Ethanol is also found in alcoholic beverages in various concentrations for safe human consumption as listed in my MICO Wars blog entitled “A Jamaican List of the Alcoholic Content of Wines and Spirits”.

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It can be used in 2001 of newer vehicles or flex fuel vehicles and is on the lower rung of Ethanol blended fuels which includes:

1.      E10

2.      E20

3.      E30

4.      E85

It can be produced from common crops such as:

1.      Corn

2.      Sugar cane

3.      Potato

4.      Cassava

5.      Hemp

Ethanol use reduces greenhouse gas emissions by as much as 50%. This is because unlike gasolene it does not contain harmful chemicals like the petroleum additive, MTBE and lead.

However, its energy density is very low and may be the reason why Jamaica is yet to step up to E20, E30, E85 or E100.

Jamaica and Biofuels – Reducing Oil Importation and Carbon footprint the aim for 2020

Biofuels would be a better substitute as the PCJ (Petroleum Corporation of Jamaica) and UTECH (University of Technology) been working on a biofuel based on Castor Oil for some time as noted in my blog article entitled “PCJ, UTECH develop Castor Oil-based Biodiesel to reduce Oil imports by 97,000 barrels”.

Not only does biofuel have the potential to reduce the importation of oil and its use among heavy polluters like large diesel Trucks and buses, but it can be mass produced more easily. Biofuel can be produce from a wider range of organic material that is not food related, such as wasted organic matter e.g. grass cuttings, organic debris and even cooking oil.

Already, the Government is moving to test LNG (Liquid Natural Gas) on JUTC Buses in 2019 with a move towards Hybrid Gas-Electric vehicles by 2020 as reported in my blog article entitled “Why JUTC going Hybrid indicates removal of 60% import duty on Electric Vehicles”. 

Hopefully too, Jamaicans who drive gasolene powered vehicles will have a similar option to convert their vehicle to use LNG or just invest in an electric vehicle in 2020, instead of just more alcohol in their vehicles. That would go a long way to not only reducing our carbon footprint but also our importation of fuel.

Wholesale Airtrack makes high quality Airtrack Inflatable mat for Gymnasts

Wholesale Airtrack is the seller of a very interesting product, the Airtrack Inflatable mat. This is basically an inflatable gymnastics air mat that allows gymnasts and athletes to do various exercises safely and with fear of injury.

Wholesale Airtrack has years of experience in developing their high-quality air tumble track. So what are the air tumble track made of?

Wholesale Airtrack Mats - Gymnasts assured of a quality tumble

After being in the business of making airtrack mats for years they develope testing procedures where they perform hundreds of tests. The gymnastics air mat is made from a material called DWF (Double Wall Fabric) consisting of 2 layers of coated vinyl with thousands of threads connecting the two layers (80.000 per m2!).

One such test involves blowing up the airtrack mats for 16 hours in the factory. This is done in order to perform pressure tests to ensure airtight seals to ensures that each their product has the best quality.

Wholesale Airtrack works closely with customers from all over the world, from experienced business to new entrants. Their products are tailored to meet the customers' requirements and are made of top quality, strength materials, which used for inflatable boat production.

Once you place an order via their website using either Paypal or Credit Cards, your product will arrive in 12 weeks time and can come in any colour you want. So are you ready to tumble?

Email Wholesale Airtrack to get more information before you place your order:

sales@wholesaleairtrack.com

CARPI Taxation and Recycling Partners of Jamaica Bottle Deposit Scheme will eliminate Plastics by 2025

“We are providing financial support to Recycling Partners of Jamaica – a private sector-led initiative towards the island wide collection and export of plastic bottles under the Housing Opportunities Production and Employment (HOPE) programme,”

Minister without portfolio in the Ministry of Economic growth and Job Creation, Daryl Vaz on the allocation of JA$75 million to the Nuh Dutty Up Jamaica campaign

World Ocean Day, which is celebrated on June 8th of each year, will never be the same again in Jamaica.

That's because the Government of Jamaica has partnered with Recycling Partners of Jamaica to set up a plastic bottle deposit scheme as reported in the article “Gov't Allocates $75m For Plastic Bottle Buy-Back Scheme”, published Sunday June 10, 2018, The Jamaica Gleaner. 

This announcement was made by minister without portfolio in the Ministry of Economic growth and Job Creation, Daryl Vaz on June 8 at the World Oceans Day event dubbed ‘Save Our Sea’.

Hosted by Conservation Through Education Jamaica at the Urban Development Corporation’s (UDC) Orange Park in downtown Kingston, World Oceans Day aims to raise awareness about the crucial role the ocean plays in our lives and the important ways people can help to protect it.

The Government, in collaboration with United Nations (UN) Environment and the Government of Japan, was also working on a plastic minimization project to reduce and manage plastic marine litter. This is mainly from Single-use plastics, or disposable plastics which includes:

1.      Plastic bags

2.      Straws

3.      Soda

4.      Water bottles

5.      Food packaging

This JA$75 million will be spread over a three year period and will be used by the Recycling Partners of Jamaica to basically pay Jamaicans to collect and return plastic bottle.

Hopefully, that will translate to JA$100 per bottle as the environment is that important as noted in my blog article entitled “How JA$100 for recycling 500ml Plastic bottles and Styrofoam Ban will save Jamaica's Environment”.

However, CAPRI (Caribbean Policy Research Institute) believes taxation of manufacturers and retailers usage of plastic bottles, bags and styrofoam products will have a better effect on the environment than an outright ban as noted in the article “Think Tank Favours Taxation Over Plastic Ban”, Published Friday December 8, 2017 by Avia Collinder, The Jamaica Gleaner

So which policy is best: ban or taxation? And will a bottle deposit fee run by Recycling Partners of Jamaica make a difference in Jamaica?

Recycling Partners of Jamaica – JA$100 per 500ml bottle Plastic bottle deposit scheme

Recycling Partners of Jamaica, more popularly known for their “Nuh Dutty Up Jamaica campaign”, have already collected some 1.3 million pounds of plastic waste for export since November 2016.

A plastic bottle deposit scheme is necessary, as Jamaicans use and dispose of almost one billion PET bottles annually. That translates to some 350 bottles per Jamaican each year. But that's been through voluntary collection using their colorful bins that have the slogan Nuh Dutty Up Jamaica as well as encouraging Jamaicans via advertising to turn in their plastic waste.

Now they are basically resorting to money, with the idea being that a value should be placed on plastic bottles so that Jamaicans have an incentive to return them.

This makes sense, as the same is already true for Glass Bottles. Already Red Stripe has a Glass Bottle Return Program that allows bottle collectors to make money from collecting glass bottles as explained in my MICO Wars blog article entitled “How Jamaicans can make money from collecting Red Stripe Bottles”.

So JA$100 per 500ml bottle is more than enough value to encourage Jamaicans to return plastic bottles that have been collected from the environment. 

Especially seeing as it costs the NSWMA (National Solid Waste Management Authority) and the PWD (Public Works Department) more money to remove them from the environment when they clog drains. It could potentially be a source of income rivaling even scrap metal, if it is incentivized in this way.

But what about plastic bottles sold by retailers, plastic Bags and styrofoam containers, the so-called single use plastic? Should there be a tax on their usage to prevent them from entering the environment in the first place?

CARPI and Plastic in Jamaica - Fee not Ban and DRS is required

A ban on the production and usage PETE Plastic, Styrofoam and single use Plastic would create a lot of resistance, as alternatives are expensive.

CAPRI (Caribbean Policy Research Institute) is therefore recommending a tax be charged on the sale of plastic bags by retailers to consumers, gradually changing behaviour over time as noted in the article “CAPRI | Reducing 'Scandal' Bag Use In Jamaica: Ban Or Fee? - Denmark First Country To Tax Plastic Bags”, published Monday February 5, 2018, The Jamaica Gleaner

Evidence of the effectiveness of Fee vs Ban can be seen when by comparing the reaction to Ban on plastic bag usage in Bangladesh, Rwanda and Kenya vs Retailers charging a Fee as was the case in Denmark and Ireland. 

Good to note these are actions in Third World or Developing Countries with little taxation oversight and rampant corruption vs First world Countries that can easily implement, manage and collect a fee on plastic Bags, thereby modifying their populations behaviour.

Alternatives can also be provided by retailers, making them thing to avoid the fees by investing in a reusable container as noted in the article “CAPRI | Towards Eliminating 'Scandal' Bags”, Published Monday November 27, 2017, The Jamaica Gleaner.

CARPI recommends the following:

1.      Large retailers be required by law to charge consumers at the point of sale for all single-use plastic bags under 24''x36''

2.      Report annually on number of bags distributed and profits from the charges

3.      Extensive stakeholder consultation and public awareness campaigns be carried out prior to implementation

4.      Reduction targets to be set and fees revised upward each year.

As it relates to plastic bottles, CARPI is recommending a DRS or Deposit refund scheme as described in the article “CAPRI | Solving The Plastic Bottle Crisis”, Published Monday April 30, 2018, The Jamaica Gleaner.

A DRS for plastic bottles involves the payment of a sum of money by the consumer when he/she purchases a drink in a plastic bottle. Once this bottle is returned, the deposit is refunded fully. This acts as an incentive for consumers to return their bottles to designated collection points to get their refund.

It also makes centralized collection for recycling of the bottles easier and is where the Nuh Dutty Up Jamaica campaign plastic bottle deposit scheme would come into play.

In summary, the JA$75 million is best spend on a DRS at the retailers combined with a JA$100 Plastic Bottle return scheme for plastic collected from the environment. Combined with a fee on the use of single use plastic, Jamaica would be free of single use plastic by 2025.