Their solution is expected to help SMEs on the islands to solve the problem of accepting cards and digital payments
Mastercard and card payments provider Square have teamed up with the Falkland Islands government to bring card payments there. That’s a part of their joint ‘Connecting the Falklands’ initiative.
The project was initiated when Mastercard connected Square to the Falklands government. This way, they tried to help sellers to get access to the bank accounts required for payment settlements.
For now, there are only one cash machine and a bank branch. In addition, the majority of the shops operate on a cash-only basis. Consequently, cards or digital payments haven’t been a common option for tourists and residents.
We’ve reported that Mastercard announced a new suite of frictionless solutions for retailers to reimagine their physical shopping experience. They are called Shop Anywhere and AI-Powered Drive Through, and Mastercard claims they are applicable and adaptable to any retail environment – from restaurants to pharmacies.