Mastercard and Square team up to bring card payments to the Falkland Islands’ SMBs – IBS Intelligence

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Square, Mastercard, and the Falkland Islands Government have recently announced a partnership, Connecting the Falkland, launched as part of the London Tech Week. The new partnership aims to solve the issue of card and digital payment acceptance faced by the Island’s SMBs.  The Falkland Islands’ remote location has made it difficult to install and maintain card payment machines. That, coupled with banking and compliance issues, made it difficult for SMBs to sign up for merchant accounts to accept cards and settle funds in their bank accounts.
“We have been a cash-heavy society for many years,” said Tim Waggott, Financial Secretary for the Falkland Islands Government. “But with increasing visitor numbers, we knew we needed to help our local businesses to make the shift to card payments. My predecessor here, James Wilson, had been working with industry to find a solution, and we are really pleased it has finally come to fruition with Square and Mastercard.
“With the coronavirus pandemic, it’s clearly an uncertain time for our business community, but they are resilient and used this time to get set up for the future. When the tourist trade returns, it’ll be more …

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