Region must keep up with technology

BRIDGETOWN, Barbados, Advocate - Minister of Industry, International Business, Commerce and Small Business Development Donville Inniss says the Caribbean has to keep up with technological changes in order to take full advantage of doing business in a global village.

“I sense that the days of credit cards with magnetic strips may be going the way of the pay phone or the snail mail. We cannot afford to be left behind,” he stated.

As he spoke at the Europay, Mastercard and Visa (EMV) compliance conference, held at the Courtyard Marriott yesterday morning, Inniss pointed out that while there have been many advancements in financial transactions due to technology, individuals were placed at great risk due to the rise in identity theft, fraud and other unscrupulous acts.