GRACEKENNEDY Group’s Digital Factory, established in 2022 to drive e-commerce and online transactions amid the COVID-19 pandemic, has introduced an outbound send feature on its GK One mobile application.

The new feature is part of a strategic overhaul of Jamaica’s remittance landscape where digital payments are gaining ground despite cash transactions remaining prevalent, the company said.

The new feature, powered by Western Union, allows users to send money instantly, reducing wait times and unpredictability associated with traditional wire transfers.

Speaking on the introduction of the feature on Monday, Margaret Campbell, chief operating officer of GraceKennedy Money Services, said the demand for a digital remittance send option had been growing among customers, particularly as more Jamaicans embrace online banking and mobile transactions.

“For a long time customers have been asking, ‘When will we be able to send money from the app’. We listened, and GK One Send is our answer. Jamaicans at home now have an easy, reliable, and secure way to transfer funds to loved ones abroad without needing to visit a physical location,” she said.

While GraceKennedy has not disclosed how much has been spent on the development of the GK One Send feature, the company has been making substantial financial commitments to its Digital Factory, which remains at the centre of its fintech strategy.

The GK One Send feature allows users to send money both locally and internationally directly from the app, with funds available within minutes through various payout options. Recipients can collect money at Western Union locations in over 200 countries, have it deposited directly into bank accounts in the US, Canada, and the UK, or receive funds via mobile wallets where applicable.

Unlike traditional wire transfers which can take days and involve multiple intermediaries, GK One Send offers a faster, more transparent alternative, eliminating long wait times and unpredictable deductions. The app ensures full pricing transparency so users know exactly how much their recipients will receive before completing a transaction.

Despite the convenience, users incur a three per cent fee on Visa and Mastercard transactions, in addition to Western Union send fees and a 15 per cent General Consumption Tax (GCT). Transactions are capped at $150,000 per transfer and per day to mitigate financial risks.

Despite the growing demand for digital solutions, cash remains deeply entrenched in Jamaica’s remittance culture. GKMS executives acknowledge that digital adoption will take time but believe the trend is irreversible.

“There will always be a need for cash, especially in Jamaica where cash usage remains high. But digital solutions are gaining traction, and we anticipate that GK One Send will gradually capture a significant share of our transactions,” Campbell noted.

She emphasised that the digital service is meant to complement, not replace, its brick and mortar Western Union locations.

“Customers want an ecosystem they can move between — one day they might need to pick up cash, another day they might send money online. This isn’t about eliminating cash transactions but giving people more choice,” she added.

The platform operates under the Bank of Jamaica’s fintech regulatory sandbox, ensuring that transactions meet anti-money laundering (AML) and fraud prevention standards. All user sign-ups require verification via a Jamaican driver’s licence, passport, or electoral ID, along with a taxpayer registration number (TRN). Additionally, all transactions undergo real time security checks to detect and prevent suspicious activity, reinforcing GKMS’s compliance with local and international financial regulations.

“We have embedded security features from local and international firms. We have done robust tests which we had to show to the BOJ, and it met all the criteria. We feel very confident about the security measures that we have put in place,” Rickardo Ebanks, head of GK’s Digital Factory, said.

GraceKennedy’s GK One Send is the first of its kind in Jamaica, offering an app-based international remittance solution. While commercial banks and fintech start-ups, such as NCB Financial Group fintech subsidiary TFOB (2021) Limited which trades as Lynk, have been expanding their digital offerings, no other Jamaican-based platform currently provides an equivalent mobile remittance send feature integrated with Western Union’s global payout network.

Beyond remittances, GraceKennedy’s long-term vision for the GK One app appears to be the creation of a broader digital financial ecosystem. In addition to money transfers the app currently allows users to pay bills, apply for First Global Bank credit cards, conduct peer-to-peer transactions, and manage their finances via a prepaid Visa card linked to the app.

Over the past few years GraceKennedy has steadily ramped up investment in digital transformation, dedicating millions annually to expanding its digital capabilities. The investments have contributed to
GK One’s rise in remittance transactions in Jamaica, with the app seeing steady double-digit growth each month since its launch.

According to the company, customer retention on the platform stands at 75 per cent. The group has hinted at regional expansion, with plans to introduce the GK One platform to new Caribbean markets, including Trinidad and Tobago and Guyana, pending regulatory approval.