GKOne introduces debit card for remittances
GraceKennedy said this week that its offer of the new GKOne app and card to all Western Union customers in Jamaica has seen responses in the thousands.
The card permits receipt of funds without having to withdraw from a bank account or joining the line at a Western Union store. It is also being used to shop for food online.
The app and card are products of the GK Digital Factory launched in 2021.
Don Wehby, Group CEO, GraceKennedy Limited, told the Jamaica Observer this week, “We are very pleased with the response thus far with over 10,000 persons having already downloaded and signed up within the app.”
Wehby outlined: “The GK One card and app allows the person to receive their remittances unto the GK One card without calling or coming in-store. The customer is able to process instantly to their card within the app and so avoid the time taken to transfer to their bank. The GK One card allows them to receive their remittance instantly at any time, including nights, weekends and public holidays. The customer no longer has to wait until their bank is open to facilitate the transfer or to access their remittance.
Comparatively, direct to bank allows persons who already have a bank account with a commercial bank to direct their Western Union remittance to their bank account.
The Group CEO said, “GKs investment in the Digital Factory gives us the capability to develop our own technology platforms to meet the changing needs of our customers.
“Our Digital Factory team is staffed by local and international talent with locals being 90 per cent of the overall team. The team uses the latest technology from Google and Microsoft to build the GK One platform in partnership with Visa.
“Remittances can be loaded unto the GK One card through the GK One app or in Western Union locations. Once loaded, the card operates like an international prepaid debit card allowing the cardholder to withdraw at any local or international ABM where Visa is accepted.
The card also has all the security features, allowing it to be used for making purchases on websites such as Amazon.com or BillExpressOnline.com.
The card is equipped with EMV Chip and Tap to Pay technology allowing the cardholder security and convenience.
Increasingly, the group CEO said, “Our customers are demanding more digital and efficient methods of processing their remittances. The focus of the GK One card and app is therefore on serving our customers any time, day or night, where they find it most convenient – on their mobile at home or at work.
He noted, “Customers can also do bill payments, apply for FGB credit cards, track their GKVR reward points, and shop the Hi-Lo e-commerce site through the app. Several additional features are under development and will be released in the coming months.”
Digital Factory products require digital registration and know-your-customer requirements.
GKOne combines a facility for in-bound and outbound Western Union remittances products, a digital wallet with a prepaid Visa card backed by First Global Bank (FGB), and the digital bill payment solution.
The company is thinking of adding cross-selling of other services, including loans, insurance and stock purchases.
The GK One app and card are free to sign up and have no monthly fees. For this reason, Wehby stated, “We anticipate a high percentage of Western Union customers will sign up for GK One.”