Jamaica National has entered the lucrative credit card market with the launch of its JN Visa Credit Cards.
The financial institution, which is the third largest in the island, started offering the product to the market last week.
Leon Mitchell, JN's Assistant General Manager, said the offer of the card to the Jamaican public is a first phase. He said JN will launch the card in the overseas market later this year.
The overseas markets in which JN currently operates are the U.S., Canada, UK and Cayman Islands.
Meanwhile, Jamaica National has confirmed that it is still on target in its transition from a building society into a commercial bank.
The financial institution received approval from the Finance Ministry last year October to move ahead with the transition that would create the third largest commercial bank in Jamaica, after NCB and Scotiabank.
JN said before that can happen, however, it will have to complete the legal process of reorganising the mutual society under which it now exists into explicitly capitalist structures.
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