Cashless Carnival option on horizon

The content originally appeared on: Trinidad and Tobago Newsday

One of the masqureaders during the pre-show of the launch of Carnival 2024, Carnival City, Queen’s Park Savannah, Port of Spain. – Photo by Ayanna Kinsale

Tourism Trinidad in collaboration with the TT International Financial Centre (TTIFC) has introduced a cashless payment option for tourism merchants geared at shifting the way business is conducted.

The workshop, held at One FinTech Avenue, the FinTech innovation centre, brought together tourism stakeholders, including tour guides, community tourism organisations, hoteliers, regional corporations and local craft organisations, providing insights into the advantages of digital payment and its potential to enhance visitor experiences and improve tourism business.

In a statement sent on Thursday, the CEO of Tourism Trinidad Carla Cupid, said, “With the rapid evolution of technology, the global tourism landscape is undergoing a paradigm shift towards digitalisation, offering unprecedented opportunities for growth, efficiency, and customer satisfaction. By embracing digital payments, our sector is poised to unlock a myriad of possibilities, revolutionising the way transactions are conducted and experiences are delivered to visitors.”

The release said digital payments can elevate the tourist experience and encourage repeat visits, calling the collaboration with TTIFC timely, considering the upcoming Carnival season and other cultural and tourism events that can benefit from digital payments.

CEO of TTIFC John Outridge said, “Merchants in travel, tourism, and other sectors have not yet seen their true revenue potential if they only conduct business through cash transactions. As TT continues to position itself as the place that is always in season.”

Outridge said there will always be room for FinTech innovation and digital payment integration to help boost the tourism business, saying TTIFC is ready to connect the tourism sector to FinTech ecosystem.