Bank of Jamaica

Jamaica’s payment system ended 2025 with a record 34,151 POS terminals and robust December electronic transaction volumes, while full-year data confirmed an accelerating shift away from cheques — annual volume fell 7.1% to 5.10 million as digital displacement reshapes how Jamaicans pay.

Jamaica’s ABM network recovered to 91.3% operational in December 2025 as Hurricane Melissa’s aftermath persisted, with 11 machines permanently destroyed in Scotia Bank’s fleet, Hanover parish at just 62.5% uptime, and Victoria Mutual staging a dramatic recovery from November’s 67.5% series low.

Jamaica remittances reached a record US$315.3 million in December 2025 — a 13.6% year-on-year surge — capping a full year of US$3,485.7 million in inflows (+3.8%), the strongest annual remittance total in the island’s history, as the UK corridor held firm at 12.5% and the agent network contracted to 442 locations.

Jamaica’s JAMCLEAR-RTGS processed 4.6 million transactions through November 2025 as JMD ABM cash withdrawal values surged 32.5% year-to-date to JMD 1.1 trillion. POS transaction declines moderated sharply to just 2.8%, cheque volumes fell 15.5%, and outstanding government bonds rose 7.2% to JMD 831 billion.

Jamaica’s ABM network experienced its worst month of 2025 in November, with national uptime collapsing to 77.1% as Hurricane Melissa’s aftermath continued to ravage the network. Victoria Mutual’s uptime crashed to 67.5% — the worst single-institution reading of the year — as two of three regions fell below BOJ compliance standards. Scotia Bank lost 25+ machines to water damage.

Jamaica received US$281.2 million in remittances in November 2025, a 14.2% year-on-year surge — the strongest monthly performance of 2025 — as the UK corridor climbed to a series-high 12.5% share and cumulative inflows recovered to 3.0% growth year-on-year.

Jamaica’s JAMCLEAR-RTGS processed 4.2 million transactions worth JMD 22.4 trillion through October 2025, as cheque volumes fell 22.4% year-to-date and JMD ABM transaction values surged 21.6%. A sharp paradox emerged as POS terminals grew 9.7% but transactions fell 11.3%, while Hurricane Melissa added weather disruption to October’s payment landscape.

Jamaica processed 4.2 million RTGS transactions worth JMD 22.4 trillion through October 2025, as cheque volumes fell 22.4% year-to-date and JMD ABM transaction values surged 21.6%. A sharp paradox emerged as POS terminals grew 9.7% but transactions fell 11.3%. Hurricane Melissa disrupted October’s payment infrastructure.

Hurricane Melissa forced selective machine decommissioning and caused power and telecommunications outages across Jamaica in October 2025, driving national ABM uptime down to 90.6% from September’s 93.6% record. JN Bank recovered to 90.5% uptime from September’s 76.9% crash, while JMMB deteriorated to 88.4%. Sagicor achieved a near-perfect 99.0%.

Jamaica’s remittance inflows fell a steep 8.3% in October 2025 to US$238.0 million — the second monthly decline in three months and the worst year-on-year contraction in the 2025 data series. Cumulative 2025 growth decelerated sharply to +1.9% as Canada ceded second-corridor position back to the UK at 10.9%.

Jamaica’s payment system crossed the J$20 trillion RTGS settlement milestone through September 2025, with electronic payments at 161.96 million year-to-date and the POS network growing to 34,245 terminals, even as retail transaction volumes normalised from the summer peak.

Jamaica’s ABM network achieved a record 98.2% operational rate in September 2025, with 888 of 904 machines active and the Kingston Metropolitan Area delivering a perfect 100% score. The milestone was shadowed by JN Bank’s collapse to 76.9% uptime — the worst single-institution reading of the year — and NCB’s unusual dip to 92.7%.

Jamaica’s remittance inflows rebounded 5.1% in September 2025 to US$267.6 million, reversing August’s historic first decline of the year. The US corridor returned to year-on-year growth at 68.0%, ending five consecutive monthly declines, while Canada and the UK tied at 11.0% each — the first such tie on record. Cumulative January–September inflows reached US$2.59 billion, up 2.9%.

Jamaica’s remittance inflows rebounded 5.1% in September 2025 to US$267.6 million, reversing August’s decline. The US corridor returned to year-on-year growth at 68.0%, ending five consecutive monthly declines, while Canada and the UK tied at 11.0% each — the first such tie on record. Cumulative January–September inflows reached US$2.59 billion, up 2.9%.

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