payment systems Jamaica

Jamaica’s cumulative remittances crossed US$2 billion through July 2025 as monthly inflows reached US$281.9 million (+4.6%), with Canada breaking above 10% share for the first time while the US corridor recorded its fourth consecutive year-on-year decline.

Jamaica’s payment system processed J$15.53 trillion through RTGS in the first seven months of 2025, with July alone generating a record J$2.55 trillion in high-value settlements, as electronic payments exceeded 125 million transactions and the POS network expanded to 33,787 terminals.

Jamaica’s ABM network achieved 95.0 per cent operational share in July 2025 — its strongest result of the year — but national uptime remained at 91.8 per cent below the BOJ’s 95 per cent target, while CIBC Caribbean emerged as a new compliance concern after falling below the 90 per cent operational threshold in Kingston and other urban areas.

Jamaica’s cumulative remittances crossed US$2 billion through July 2025 as monthly inflows reached US$281.9 million (+4.6%), with Canada breaking above 10% share for the first time while the US corridor recorded its fourth consecutive year-on-year decline.

Jamaica’s payment system settled J$12.98 trillion through RTGS in the first half of 2025 as electronic transactions exceeded 106 million, but a sharp 17 per cent drop in USD dual-currency cards from 45,630 to 37,987 has raised questions about a structural shift in foreign-currency card products.

Jamaica’s 905-strong ABM network achieved a 93.6 per cent operational share in June 2025 but recorded only 91.5 per cent average uptime, missing the Bank of Jamaica’s 95 per cent minimum standard for the fifth consecutive month as Scotia Bank’s multi-front remediation programme continued.

Jamaica’s remittance inflows moderated to US$267.5 million in June 2025, up 2.8 per cent year on year, as the half-year cumulative total crossed US$1.708 billion — even as the US corridor recorded its third consecutive year-on-year share decline and Canada reached a new series high of 9.9 per cent.

Jamaica’s POS terminal network crossed 33,000 for the first time in May 2025, reaching 33,311, while RTGS settlements hit an estimated J$2.13 trillion for the month and the CSD processed an exceptional J$5.7 trillion in securities transactions.

Jamaica’s ABM network achieved 100% operational availability across all three regions in May 2025, yet national system uptime fell to 90.9% as Scotia Bank’s denomination mix initiative, continued parts remediation, and unplanned dispenser and telecom issues eroded machine availability.

Jamaica received US$286.3 million in remittances in May 2025, the highest monthly total and fastest growth rate of the year at 5.9%, as the US corridor share declined for a second consecutive month to 68.2% and Canada posted its strongest share reading of 2025.

Jamaica received a record US$286.3 million in remittances in May 2025, up 5.9 per cent year on year and the highest monthly total of the 2025 reporting series, even as the US corridor’s share declined for a second consecutive month.

Jamaica’s payment system settled J$8.78 trillion via RTGS in the first four months of 2025, with POS terminals approaching 33,000, debit cards at 3.81 million, and ABM withdrawals running near parity with POS spending as cash and digital channels continue to co-grow.

Jamaica’s ABM network recorded 92.2% system uptime in April 2025, marginally better than March but still below the BOJ’s 95% minimum, as Scotia Bank’s third consecutive month of vandalism-related disruptions kept Other Urban and Rural regions out of compliance.

Jamaica received US$276.8 million in remittances in April 2025, up 2.5% year-on-year, with the cumulative January-to-April total reaching US$1.04 billion as the US corridor share dipped back to 68.9% — a potential sign the concentration trend is stabilising.

Jamaica’s payment systems delivered a strong Q1 2025 performance, with J$6.84 trillion in RTGS settlements, 32,676 POS terminals active in March, and ABM cash withdrawals surging 39.5% year-on-year.