Kevin Chin-Shue
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Kevin Chin-Shue, General Manager for Paymaster and head of Digicel Financial Services
By Javaughn Keyes
One player in the local financial technology (fintech) landscape, thinks more Jamaicans will be open to the use of digital cash if there were more players involved.
General Manager for Paymaster and head of Digicel Financial Services, Kevin Chin-Shue, says this could help Jamaicans become more comfortable with the technology.
"When you have more participants in the environment, what you find is that, you know, I will cater to this segment, another player may cater to another segment. But eventually it will start to coalesce, and everybody will start to move around that environment once they're enough players in the market," he suggested.
The new "My Cash" application launched in March this year.
Mr. Chin-Shue said the company is looking to accept the BOJ's Central Bank Digital Currency, JAM-DEX, in 2024.
Earlier this year, the BOJ indicated that the rollout of the local CBDC was behind where it anticipated.
Currently, NCB's Lynk is the only local CBDC wallet available to the public.
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