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Bank of Jamaica BOJ Governor, Richard Byles, says the full rollout of Jamaica’s central bank digital currency CBDC, branded JAM-DEX, will alleviate many of the problems people experience at automated teller machines ATMs.
JAM-DEX was first introduced in 2021 and rolled out to the Jamaican public on a phased basis in 2022. However, it is still not widely utilised as a form of payment across the country.
The Central Bank maintains that JAM-DEX offers a safe, efficient, and convenient way to pay for goods and services without the need for cash.
Responding to a question during the recent BOJ press conference, Governor Byles stated that retrofitting point-of-sale POS machines at consumer-facing establishments, to accept the CBDC will facilitate a broader rollout of JAM-DEX.
