KINGSTON, Jamaica — The Planning Institute of Jamaica (PIOJ) is reporting that the volume and value of Jamaican dollar transactions at point-of-sale (POS) terminals increased by 27.9 per cent to 84.8 million and 13.5 per cent to $1.1 trillion, respectively in 2024.

The information is contained in the 2024 edition of the Economic and Social Survey Jamaica (ESSJ), an annual publication of the PIOJ.

The survey also found that the volume of Jamaican dollar transactions at automated banking machine (ABM) terminals declined by 8.9 per cent to 49.0 million while the value increased by 7.4 per cent to $829.5 billion.

The total ABM and POS Jamaican dollar transactions processed by deposit-taking institutions (DTIs) totalled $1.9 billion.

There were 900 ABMs and 31,836 point of sale machines installed by DTIs in Jamaica as of December 2024. This represented an increase of 3.9 per cent and 10.2 per cent, respectively, when compared to 2023.

“Similar to the previous year, there were decreases in the volume and value of United States (US) dollar transactions processed by deposit-taking institutions’ POS terminals”. The volume and value of US dollars processed at POS terminals decreased by 26.7 per cent to 3.1 million and 32.1 per cent to $590.6 million, respectively,” the survey said.

It said the number of transactions at ABMs increased by 8.9 per cent to $1.1 million while the value of transactions processed decreased by 1.7 per cent to $343.3 million.
At the end of the 4th quarter, the number of Jamaican dollar cards in circulation increased to 3,822, 599 (debit) and 430, 900 (credit), an increase of 4.3 per cent and 5.4 per cent, respectively, compared with 2023.

The number of US dollar credit cards and dual currency cards increased by 0.8 per cent to 25,182 and 7.6 per cent to 41, 641, respectively.

There were 282,274 registered wallet users, inclusive of 4, 417 registered merchants on the Lynk platform.