Updated: Oct 13, 2023 08:20 AM

Contactless payments by phone, using Apple, Google and Samsung Pay applications, are not yet available to local bank users (Photograph by Chris Ratcliffe/Bloomberg)

Bermudians could soon use their mobile phones to pay for things, according to Mastercard.

Jimena Elia, Mastercard country manager for Bermuda and the west and Dutch Caribbean, told The Royal Gazette they are helping local banks to introduce electronic wallets to the island.

Electronic wallets work in a similar way to a contactless card and use near-field communication between the phone and a checkout terminal to allow payment.

They are a common method of payment in other parts of the world but not yet available to Bermuda bank customers.

“From a confidentiality point of view, I cannot disclose the plans of each of the banks,” Ms Elia said. “I will say that all of them have plans to digitalise their portfolios. They are preparing themselves to welcome the giants of digital wallets such as the Googles, the Samsungs and the Apples of this world.”

A spokesman for Butterfield Bank said they would be delighted to provide their clients with the ability to make contactless phone payments. They blamed the lack of them on the app owners.

“Earlier this year in May, for example, we were pleased to be first to market with Google Pay in the Cayman Islands,” the spokesman said. “We are in discussions and continue to be prepared for when these systems are introduced to Bermuda. Our merchant terminals, for example, are already equipped to accept near-field communication payments.”

Ms Elia said Mastercard was helping the banks to convince the tech giants to enter Bermuda.

“I think we are close,” Ms Elia said. “Hopefully, soon, we will have some big news for all of you living in Bermuda.”

She said Mastercard is working closely with its partners in Bermuda to troubleshoot and to improve business.

She handles the Latin American region and said Bermuda is one of the most sophisticated markets in her portfolio from an electronic payment point of view.

“Bermuda has shown very good indicators leading the way on many fronts,” Ms Elia said. “You guys are leading for contactless penetration in the market.”

She said Bermuda is very open to the idea of electronic wallets even if they do not have access to them yet.