Jamaica’s digital payment revolution
Traditional banking methods give way to modern solutions
In a significant transformation of Jamaica's financial landscape, digital payment methods have steadily eclipsed traditional banking instruments over the past eight years, reshaping how businesses and consumers conduct transactions across the island nation. Analysis of transaction data between 2016 and 2024 reveals a seismic shift away from paper-based payment systems toward electronic alternatives, with the COVID-19 pandemic serving as a catalyst that accelerated adoption rates.
The decline of c...
