Over the past few weeks, you have been seeing me talk more and more about digital business. As more people are taking the plunge into becoming entrepreneurs or even building an e-commerce business as a side hustle, having people with the ability to pay you online is key for this success. In comes the new Scotiabank Visa-Debit Card and they couldn’t have done this at a more perfect time.
I was in attendance at their launch event for their new Visa-debit card and a bevvy of new features to their app, they spoke about their new in brand management flow, their new intelligent deposit machines, their digital tokens, and their new mobile payment system that will allow you to make payments via Bluetooth.
What Does This Mean For You?
While that is all fine and dandy, the most important update is the Visa-debit card. Scotia will be replacing all of their existing customer cards with them.
So what does this mean for you and everyone else? Well, with your Visa-debit card, you are now able to pay everybody online using the funds from your bank account.
Since Scotiabank is one of the larger banks here in Trinidad & Tobago, that will make every customer of theirs bankable and able to participate in the e-commerce economy.
Having a website or using tools like Wipay & Buzzpay will have even more appeal as you can send invoices to clients for items, rather than having them pay you in cash. While cash will still be king for a while as consumers start to learn how e-commerce truly works, the reality is that all banks will be switching over to Visa-Debit in the very near future.
This is major news…Even for those who are traveling, now you can make purchases when you travel to anywhere in the world that Visa is accepted, without having to worry about getting cash ahead of time.
The next big hurdle is going to come in the form of education. Educating the nation on how to build a real digital business, understand how your websites are the only sales reps that work 24/7, 365 days a year. People can learn how to DIY a website for less than $100usd if they are willing to put in the time to learn how to do it.
I can’t stress enough how excited I am as we move forward into the digital age. So far JMMB & Scotiabank are the only 2 banks with Visa-Debit cards and I will keep you posted on when the other banks release theirs.