July 30th, 2021 (Bridgetown, Barbados) The Cave Shepherd Card has been loved across many generations, becoming a staple within the Barbadian financial services market. Today, its growth continues within the Cave Shepherd Group of Companies as the Cave Shepherd Card business has officially converted to the separate operating entity “Cave Shepherd Card (Barbados) Inc.” trading as “Payce Digital”. Despite the change in name and new brand elements, the business will offer the same great service with enhanced payment products and new features.
Chief Executive Officer of Cave Shepherd Card (Barbados) Inc., Alison Browne-Ellis stated that the creation of the new entity under the Cave Shepherd & Co. Limited umbrella signifies the Board of Directors’ recognition of the company’s performance and growth over the years, while highlighting confidence in the future potential of the business. Browne-Ellis highlighted “one of our key pillars for success over the years has been to constantly seek out ways to add meaningful value to our Cardholder Family. Evolving from a place where hand written records of transactions were recognized as a form of payment to now being one of the most widely used credit cards in Barbados is not something we take lightly. Our commitment to continuous improvement and service excellence is unwavering and will continue under our new brand – Payce Digital.”
Browne-Ellis acknowledges that the team recognizes that the name change is another bold and transitionary step similar to the Visa Partnership launch which occurred in September 2016. “We have always been confident in our decisions when our customers remain at the core of everything we do. Following extensive customer research some notable shortcomings in our market positioning strategy were highlighted. As such, our goal is not only to strengthen our brand but to bolster our product and service offering, especially as we continue to evolve in the digital payments space.
As the leading locally owned credit card and mobile payments services company in Barbados now with global reach, it is important that we continue to build on our legacy.” Browne-Ellis reaffirmed the company’s commitment to maintaining its brand values and delivery of extraordinary customer service which will remain high priority under the new brand. Payce Digital paves the way for the introduction of new products and services that meet the needs of our future generations, and the emerging digital payments needs of micro and small businesses.
John Williams, Chief Executive Officer of Cave Shepherd & Co. Limited stated that “the introduction of Payce Digital represents the Group’s ongoing commitment to changing and growing in the financial services sector. The Cave Shepherd Card business has been focused on digital transformation for the last ten years and has performed exceptionally well. In the face of COVID-19, this business has also shown how truly resilient and innovative it can be in servicing its over 35,000 Cardholders and other partners. We are therefore eagerly looking forward to implementation of the plans earmarked for Payce Digital, which is now well positioned to grow and continue making a positive contribution to the Cave Shepherd Group.”
“We are thrilled to see this important business evolution that gave birth to Payce Digital and what it means for Barbadians,” said Frank Gandarillas, Visa’s Senior Director for Caribbean Countries. “We are very focused in expanding the digital payments ecosystem in Barbados and strongly believe that contactless Visa credentials adoption will accelerate cash conversion while providing convenience, security and frictionless payment transactions to consumers in the country.”
During the formal launch of Payce Digital, Browne-Ellis announced details of a suite of new products and enhanced digital services. “In keeping with our thrust towards digital services, Payce Digital will now offer our Cardholders the convenience and security of electronic bill payments. From the convenience of their phone or other preferred device, our Cardholders can now pay a myriad of utilities and other recurring bills through the Payce Digital Mobile App. We are also pleased to further expand our commitment to micro and small business owners with the soon to be launched revolving credit card offering that will feature an attractive starting limit, competitive annual interest rate, discounted freight fees and optional insurance coverage.”
Payce Digital, Cave Shepherd Card (Barbados) Inc., will be headquartered at its new office at One + Haggatt Hall, Haggatt Hall, St. Michael and for additional convenience, the existing Card office located within Bridgetown Duty Free, Broad Street, Bridgetown will continue to serve its valued Cardholder Family.