For the first time, visitors to St Helena will have the convenience of making in-person, real-time electronic Visa and Mastercard card payments, enhancing their stay and boosting the local economy by empowering visitors to engage more freely with the island’s local economy.
Jamestown from Jacob’s Ladder. Picture: David Stanley/ Flickr Commons
St Helena Island, in collaboration with Ryft, the FCA-licensed UK fintech, is revolutionising the visitor experience on the remote island of St Helena.
Situated in the South Atlantic Ocean, over 1 900 km off the west coast of Southern Africa, St Helena is a remote British Overseas Territory renowned for its natural beauty and historical significance.
With a population of under 4,500, the island relies heavily on tourism, particularly from the UK and South Africa. However, due to its geographical location and limited access to international merchant payment platforms, the island has faced challenges in facilitating seamless transactions for visitors.
Visitors to St Helena have previously been limited to cash transactions using Sterling or St Helena Pounds (tied to GBP). Cash withdrawals have only been possible in person at the Bank of St Helena, with an associated fee of five per cent. This setup has hindered visitors’ ability to spend money on the island.
With the new convenience of card payments, visitors will have greater flexibility in spending their currency while exploring the island’s rich offerings. They can more easily indulge in local hospitality, shop for unique souvenirs, and savour the delightful culinary experiences St Helena has to offer. This development marks a major step forward in the island’s digital transformation, ensuring that St Helena remains a sought-after destination.
‘Barriers resulting from our remoteness have meant that technology adoption has always been delayed on our small and isolated island – the internet didn’t arrive until 1995, and mobile phones weren’t commonplace until 2015,’ Mark Brooks, Minister for the Treasury, Infrastructure, and Sustainable Development Portfolio at St Helena Government said.
‘But digital transformation is at the heart of our plans for economic growth as we work hard to recover from the hammer blows dealt to the tourism industry by the Covid-19 pandemic. We couldn’t accept any longer the barriers our cash-based economy put in front of cruise passengers and other tourists, limiting their ability and appetite to spend with our local businesses.’
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