A view of the Bank of Jamaica in downtown Kingston. The BOJ says it is still on track for the roll-out of the Central Bank Digital Currency (CBDC) during the first quarter of 2022.
June 8, 2020
BOJ warns against using unauthorised e-payment service providers
KINGSTON, Jamaica — The Bank of Jamaica (BOJ) is advising the public that it has so far only authorised three service providers to offer electronic retail payment services to the public.
The three are Sagicor Bank (My Cash), National Commercial Bank (Quisk) and Alliance Financial Services Limited (EPay).
However, the bank said it is aware of electronic retail payment services being offered by unauthorised providers.
Electronic retail payment services are those relating to the use of an electronic retail payment instrument, such as a prepaid card or mobile wallet.
BOJ warns that as transactions of this nature, in the absence of regulatory oversight, could negatively impact the safety and integrity of the national payment system.
