A survey conducted by Branch Consulting and Outsourcing Services last year indicated that 9 out of every 10 Jamaicans have ready access to cash but only 6 out of every 10 have access to a phone with a mobile money app.
The same survey also revealed that cash remains the most widely used in-person payment method, while indicating that its dominance is reduced when the payments of large sums are required.
The firm also found that credit cards are used mostly to facilitate payments for high value purchases such as gasoline; durable goods such as jewelry, utility bills; digital subscriptions and taxes.
Meanwhile, Branch Consulting is also reporting that 9 out of 10 respondents to the survey revealed that they did not use the central bank digital currency.
Approximately 3 out of every 10 credit card users said the point of sale machines in the country are reliable, while 5 stressed that they are not so reliable.
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