- RTGS cumulative settlements reach J$17.66 trillion through August
- Electronic payments cross 143 million transactions year to date
- POS terminal network surpasses 34,000 for the first time, at 34,036
- ABM withdrawals: 5.61 million transactions worth J$104.43 billion
- USD dual-currency cards continue gradual recovery to 38,552
- CSD securities settlements top US$2 billion equivalent for first time
Jamaica’s payment system sustained its forward momentum in August 2025, with two quiet milestones: the POS terminal network crossed 34,000 machines for the first time, and the Central Securities Depository crossed US$2 billion in securities settlements year-to-date, even as August’s individually moderated transaction volumes reflected a natural post-summer plateau.
Jamaica’s high-value payment system settled a cumulative J$17,655.95 billion across 3,362,153 transactions through the JAMCLEAR RTGS in the first eight months of 2025, according to the Bank of Jamaica’s Payment System Data Bulletin for August 2025. Subtracting the January-to-July cumulative of J$15,532.04 billion implies August-only RTGS activity of approximately J$2,123.91 billion — a moderation from July’s record-implied J$2,553 billion but consistent with the typical mid-quarter pattern in which settlement volumes peak in the third month of each quarter before easing slightly in the subsequent period.
The US dollar equivalent of RTGS settlements reached US$2,036.05 million cumulatively through August — a figure that reflects the substantial cross-currency component of Jamaica’s high-value interbank payments, including trade finance, foreign currency lending, and government external debt service transactions processed through the system.
CSD Crosses the US$2 Billion Mark
The JAMCLEAR Central Securities Depository recorded 76,731 transactions through August 2025, with a combined Jamaica dollar value of J$9,219.22 billion and a US dollar equivalent of US$2,014.21 million. The crossing of the US$2 billion threshold in CSD settlements is a milestone for Jamaica’s government securities market, reflecting the sustained secondary market trading, new issuance activity, and collateral management operations that flow through the depository.
The CSD’s role in Jamaica’s financial system is often underappreciated in public commentary but is central to the functioning of monetary policy. Every BOJ repo and reverse repo transaction — the tools the central bank uses to manage system liquidity — passes through the CSD as a securities settlement. The 76,731 transactions recorded through August therefore represent not only investor activity but also the mechanical footprint of active open market operations throughout the year.
Electronic Payments Cross 143 Million Transactions
Jamaica dollar electronic payments reached 143,691,180 transactions year-to-date through August 2025, with a combined value of J$4,226.62 billion. Electronic transactions have now averaged approximately 17.96 million per month through the first eight months of the year, a pace that would project to approximately 215 million transactions on a full-year annualised basis if maintained through year-end.
The month of August itself implies approximately 18.4 million JMD electronic transactions (143.69M minus July’s 125.27M), broadly in line with recent months. The consistency of the monthly run rate through the summer period suggests that digital payment adoption in Jamaica has reached a level of maturity where volumes are no longer heavily seasonal but instead reflect the underlying growth trajectory of the broader economy and payment ecosystem.
POS Network Crosses 34,000 Terminals
At end-August 2025, Jamaica’s point-of-sale terminal network stood at 34,036 — the first time the network has exceeded 34,000 machines. The addition of 249 terminals during August continues the steady monthly expansion that has characterised the POS network throughout 2025, building from 33,311 in May through a sequence of consecutive monthly gains to the current level. At the pace of growth observed since May, the network is on trajectory to approach 35,000 terminals before the end of the year.
The practical significance of crossing 34,000 POS terminals extends beyond the round number. Each additional terminal represents a new location at which Jamaican consumers can choose to pay by card rather than cash — a choice that, when aggregated across millions of transactions, incrementally shifts the composition of consumer payments away from physical currency. For financial inclusion, broader POS coverage is particularly relevant in areas that have historically been cash-dependent, as it provides access to card payment infrastructure for small merchants and their customers who may not have had that option before.
August Consumer Payment Activity
August ABM withdrawals in Jamaica dollars reached 5.61 million transactions valued at J$104.43 billion — a slight moderation from July’s 5.84 million and J$108.23 billion. The August moderation is consistent with the post-summer normalisation in consumer cash demand as the peak school holiday and domestic tourism season winds down. The average withdrawal value in August was approximately J$18,615, marginally above July’s J$18,531, suggesting that while fewer transactions occurred, the per-transaction cash amount held steady — consumers drew less frequently but in similar amounts when they did use ABMs.
US dollar ABM withdrawals were 91,400 transactions worth US$24.34 million, a slight easing from July’s 95,770 transactions and US$26.06 million — consistent with the end of the peak summer travel season and the reduction in the number of returning residents and tourists accessing USD cash from the island’s foreign-currency ABM points.
POS Jamaica dollar spending reached 7.77 million transactions valued at J$100.36 billion — slightly below July’s 7.84 million and J$102.94 billion. The average POS transaction value in August was approximately J$12,916, consistent with the recent range. US dollar POS transactions moderated to 306,230 worth US$48.44 million, compared to July’s elevated 331,540 and US$59.32 million — the latter having been elevated by peak tourist season card spending. The August reduction in USD POS transactions reflects the normalisation of tourism volumes as the summer high season concludes.
Card Numbers: Dual-Currency Continues to Stabilise
At end-August, JMD debit cards in circulation rose to 3,815,926 — an increase of 18,879 from July’s 3,797,047, reflecting continued net new account openings and card issuance across the banking system. JMD credit cards edged up to 435,676 from July’s 434,768. USD credit cards held near-steady at 25,071.
USD dual-currency cards rose modestly to 38,552 from July’s 38,360, continuing the gradual recovery from June’s dramatic fall from 45,630. After three consecutive months of modest increases — June 37,987, July 38,360, August 38,552 — the trajectory suggests a slow recovery rather than an imminent return to the pre-June levels. The 7,078 cards that remain below the May peak appear to represent a permanent structural reduction in the product category, most likely reflecting a product transition by one or more issuing institutions.
Cheque Activity: Consistent with Recent Months
Jamaica’s cheque clearing handled 430,000 domestic currency instruments in August 2025 valued at J$77.51 billion, broadly consistent with the recent monthly range. The 5,200 US dollar cheques cleared during August had a combined value of US$81.47 million — a per-cheque average of approximately US$15,668 that underscores the continued use of USD paper instruments for high-value commercial transactions. A small number of Canadian dollar cheques (around 10) were also processed, with a combined value of C$140,000.
Eight-Month Assessment: Structural Strength in Jamaica’s Payment Architecture
The cumulative eight-month data through August 2025 presents a payment system that is growing in depth, breadth, and resilience. RTGS volumes approaching J$18 trillion underscore the scale of financial activity being processed through Jamaica’s wholesale payment infrastructure. A POS network exceeding 34,000 terminals represents a significant achievement in retail payment infrastructure deployment. Electronic transaction volumes tracking toward 215 million for the year confirm that digital payments have become a mainstream feature of Jamaican consumer and business financial life.
For property market participants, the payment system data provides an indirect but useful reading on economic vitality. High RTGS volumes, growing POS infrastructure, and steady electronic payment adoption all point to an economy engaged in sustained financial activity at both the retail and wholesale levels — a backdrop that supports demand for commercial and residential property, underpins business investment decisions, and reflects the confidence of merchants and financial institutions in Jamaica’s near-term economic trajectory.
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