SVL puts EvoCash to the test

Supreme Ventures Limited (SVL) has begun putting its EvoCash wallet and payment card through an employee trial, advancing a more than $1-billion fintech investment that it expects to start contributing positively to earnings next year.

About half of SVL’s approximately 650 employees have signed up since the pilot began in mid-September, with participants already using the product to transact at businesses. The company expects to widen access progressively as it works through the Bank of Jamaica’s approval process, although it has given no date for a full public roll-out.

“The central bank has a clear process to ensure the product is robust and we are abiding by that process,” SVL Executive Chairman Gary Peart told the Business Observer.