Advanced Integrated Systems, a payment provider based in Jamaica, and MOBIbucks, a mobile payment company based in Louisville, Ky., announced the first mobile money platform for the Caribbean. The companies said the platform will start in Jamaica and roll out in the Caribbean within the next twelve months.

According to the announcement, the new platform allows users to carry out cashless transactions using their mobile phone number. It is a patent-pending cashless and cardless solution that gives any cellphone user the ability to have a mobile wallet and make purchases using only a phone number and PIN.

"International momentum continues to build for MOBIbucks and the cashless, cardless alternative we bring to the mobile payments market," said Jorge Fernandes, CEO of MOBIbucks

Advanced Integrated Systems CDO Doug Halsall said that unlike the U.S., where credit cards are the preferred method of payment, Jamaica is a cash society and MOBIbucks replaces cash and money transfers and with a mobile wallet.

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