Having already achieved first-to-market status with the November 22nd launch of their innovative mobile money service, TchoTcho Mobile, Scotiabank and Digicel today achieved another important milestone.

The news comes today that Scotiabank and Digicel will be the first mobile money providers to reach the goal of 10,000 transactions as set by the Haiti Mobile Money Initiative placing them in pole position to win the cash prize associated with the launch of the product. As such, Digicel will today file its application for the grant before going through the 30 day audit process.

The Haiti Mobile Money Initiative is a partnership between USAID and the Bill and Melinda Gates Foundation and is implemented by HIFIVE, a USAID project.

Since TchoTcho Mobile’s launch in November — just days after obtaining final regulatory approval from telecoms regulator, CONATEL, and the Central Bank of Haiti — thousands of customers have used this innovative service for transactions such as cash deposits, withdrawals and transfers to other TchoTcho Mobile subscribers and the customer feedback has been great.

Digicel Haiti CEO, Maarten Boute, comments; “TchoTcho Mobile is changing the way Haitians live and make transactions. There is massive interest in — and enthusiasm for — our product right across Haiti. We’re proud to be the first provider to achieve the goal of 10,000 transactions as set by the Haiti Mobile Money Initiative.

He continues; “Feedback from TchoTcho Mobile users is that they are very satisfied with the quality of the service and delighted with how fast, secure and user-friendly it is. As Digicel has over 2.4 million subscribers, the widest coverage with over 95% population coverage and the largest retail network in Haiti, TchoTcho Mobile will soon become an essential service to the Haitian people. We are also delighted to have partnered with Scotiabank, which, as one of the foremost banks in the world, has an impeccable track record.”

“When the TchoTcho Mobile agent approached me and explained how the product worked, I have to admit that I was a bit reticent at first. But after I read the information describing the product and its advantages, I felt more at ease and decided to register. I have since made a few transactions very securely. This product is just great. TchoTcho Mobile makes life so much easier for me,” announced Jeffrey Nicholson Carre, a very satisfied TchoTcho Mobile subscriber.

Initiatives such as payroll for manufacturing jobs and “cash-for-work” programmes — as well as community meetings in Port-au-Prince and the provinces — have made it possible for Scotiabank, the largest commercial bank in the Caribbean with over 2 million customers and Digicel, the biggest telecommunications network in Haiti, to reach the Haiti Mobile Money Initiative goal in just three weeks. This was supported by an extensive communications campaign aimed at informing Haitian consumers on the multiple advantages of the product — as well as its ease of use.

“We are very proud to offer a service that contributes to financial inclusion in Haiti and are very pleased at the results so far,” said Maxime Charles, Country Head, Scotiabank Haiti. “We look forward to the ongoing contribution of TchoTcho Mobile to the economic development of the country by providing a safe and secure banking service to people who are not part of the traditional banking system. We are very satisfied with the results.”

TchoTcho Mobile allows users to conduct banking transactions via their Digicel mobile phones and is currently available across 150 TchoTcho Mobile agents nationwide. For more information, please contact our customer care available 24/7 by dialing 202.

About Digicel

After nine and a half years of operation, Digicel Group Limited has 11 million customers across its 32 markets in the Caribbean, Central America and the Pacific. The company is renowned for delivering best value, best service and best network.

Digicel is the lead sponsor of Caribbean, Central American and Pacific sports teams, including the Special Olympics teams throughout these regions. Digicel sponsors the West Indies cricket team and is also the title sponsor of the Digicel Caribbean Cup. In the Pacific, Digicel is the proud sponsor of several national rugby teams and also sponsors the Vanuatu cricket team.

Digicel also runs a host of community-based initiatives across its markets and has set up Digicel Foundations in Jamaica, Haiti and Papua New Guinea which focus on educational, cultural and social development programmes.

In 2004, Digicel developed Digicel Rising Stars — an annual talent show to support aspiring young music artists in the Caribbean. The show has spanned the Eastern Caribbean, Haiti, Jamaica and Trinidad & Tobago ranking as one of the top-rated shows.

Digicel is incorporated in Bermuda and its markets comprise: Anguilla, Antigua & Barbuda, Aruba, Barbados, Bermuda, Bonaire, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, El Salvador, Fiji, French Guiana, Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica, Martinique, Nauru, Panama, Papua New Guinea, Samoa, St Kitts & Nevis, St. Lucia, St. Vincent & the Grenadines, Suriname, Tonga, Trinidad & Tobago, Turks & Caicos and Vanuatu. Digicel also has coverage in St. Martin and St. Barts in the Caribbean.

Visit www.digicelgroup.com for more information.

About Scotiabank
Scotiabank has been part of the Caribbean and Central America since 1889. It is now the leading bank in the region, with operations in 20 countries, including Haiti, Bahamas, Barbados, Jamaica and Trinidad and Tobago. The Bank has more than 7,000 employees in the region, including affiliates, serving more than two million customers, with 232 branches, kiosks and other offices, plus 615 automated banking machines. Through the Bright Future program, Scotiabank focuses our charitable efforts on causes and activities that can enhance the well-being of children, particularly in the areas of education, health, wellness and the environment. For more information on our program, please visit www.scotiabank.com/brightfuture/index.html

Scotiabank is one of North America’s premier financial institutions and Canada’s most international bank. With close to 70,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With more than $523 billion in assets (as at July 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.