Scores of members of the CCRP, a seniors’ advocacy organisation, were introduced to Jamaica’s central bank digital currency, JAMDEX, during an informative presentation hosted by the Bank of Jamaica (BOJ) via Zoom on Thursday 28th May.

The presentation was led by  Wayne Guthrie, Unit Head of Fintech Development and Implementation at the Bank of Jamaica, who has been instrumental in the implementation and development of JAMDEX. Mr Guthrie was introduced by  Mario Griffiths, Division Chief with responsibility for Payment Systems at the BOJ.

During the session, members were educated on the features, benefits, and practical use of JAMDEX as Jamaica continues to advance its digital financial ecosystem. It was emphasised that JAMDEX is not intended to replace cash or bank notes, but rather to serve as another convenient payment option for Jamaicans.

Presenters explained that one of the key motivations behind the initiative is to support Jamaica’s digital transformation agenda in alignment with the Government of Jamaica’s Vision 2030 strategy. The BOJ noted that it is seeking to keep pace with technological advancements to ensure that customers are not left behind in an increasingly digital society.

Members were informed that JAMDEX is quick, safe, and reliable and can be accessed through approved mobile applications or digital wallets available on smartphones. The presentation also highlighted enhanced financial inclusion as one of the major benefits of the introduction of JAMDEX, allowing more Jamaicans to participate in the formal financial system.

Participants were guided through the process of accessing JAMDEX through approved wallet providers, including the simplified onboarding and Know Your Customer (KYC) requirements. Members were also informed of the wallet and transaction limits currently in place for users.

The presentation highlighted that approximately 310,000 Jamaicans are currently using JAMDEX, while acknowledging that adoption has progressed gradually due to competing priorities among financial institutions and limited promotional activity.

Special emphasis was placed on the robust security measures incorporated into the platform, including strong multi-factor authentication designed to reduce fraud risks. Members also learned that JAMDEX offers transparent transaction histories, allowing users to better monitor spending and manage their finances.

Mr Guthrie additionally outlined future developments planned for the platform, including offline transaction capabilities and the introduction of additional wallet providers aimed at improving accessibility and convenience.

CCRP welcomed the presentation as part of its ongoing commitment to ensuring that seniors remain informed and empowered as Jamaica’s financial and technological landscape evolves.

The organisation expressed appreciation to the Bank of Jamaica, Mr Wayne Guthrie, and Mr Mario Griffiths for engaging its members and providing valuable insight into the future of digital payments in Jamaica.