Mobile Money

Mobile money will change the way we pay for goods and services by delivering convenient and affordable financial services to people who do not have traditional bank accounts.

Imagine using your mobile phone to get 24/7 access to your funds – every day of the year. Add to that, the ability to use that same mobile phone to send and receive money, buy goods at the market, pay for products and services, and pay a range of bills – all at your convenience.

Mobile money is the game changer that will allow you to do all that and more, bringing convenience and ease of access to your fi¬ngertips, literally at the click of a button. This phenomenal development will allow access from the most basic mobile phone and puts Jamaica in line with countries around the world. Up to October 2014, mobile money was being used in 88 countries across the world, for 251 services.

Mobile money is for everyone - for those who do not have a bank account but still need to conduct business, for the professional who wants to conduct business while on the go, and for those who want a safe, fast and convenient option to the traditional way of doing business.

Additionally, customers can better meet their financial obligations without delay – whether purchasing phone credit, paying for services such as those provided by a mechanic, to those provided by a doctor.

Mobile money has a vast potential to revolutionize the way people manage ¬finances and conduct business transactions, at their convenience, in real time regardless of where they are located.

Mobile money will change the way we pay for goods and services by delivering convenient and affordable financial services to people who do not have traditional bank accounts.

Mobile Money at Work

Erral Campbell, Farmer
Mas' Erral can use his mobile money account to buy fertilizer and seeds from the farm store. He can also do person-to-person transfers to pay his workers and to receive payments from the vendors who buy his produce each week.

Monica Rose, Shopkeeper
Her small shop is the hub of the community, so Auntie Monica can use mobile money to grow her business. She can use mobile money to pay for goods for the shop from the wholesale and the van salesmen who make the rounds. Instead of keeping cash at the shop where it might be exposed to theft, Auntie Monica can cash in - deposit her funds into her mobile money account - as a means of saving.

Eunice Fearon, Homemaker
Miss Eunice takes care of her three grandchildren whose mother Mae is working in the USA. By receiving cash remittances from Mae on her mobile phone, Miss Eunice will be able to buy food for the children from Auntie Monica's shop. She can pay the electricity bill and she can even keep a little cash on her mobile phone as savings. When she needs cash, she can go to the Bill Express location and cash out - withdraw money from her mobile money account.

Trevor Fearon, Taxi-driver
It's fast and easy for Trevor to collect payments for charters and courier services with mobile money. When he services his car, he pays his mechanic using mobile money, a convenient option to travelling with cash. Trevor loves that fact that he always has easy access to his cash anywhere on the island, through his mobile phone. He also uses mobile money to send funds to his family. When he is working late at nights, and the shops are closed, Trevor can use mobile money to buy phone credit to keep in touch with those who matter most.

Francine Tulloch, Sales Manager
Francine is a young executive with a highly demanding job that keeps her busy throughout the day. With no spare time to join lines and run errands, she uses her mobile money account to pay her bills, buy grocery, and pay Trevor to do a few courier rounds. Plus, Francine can also use mobile money to pay her helper and gardener, and send money to her mother, Susan, on the other side of the island.

Carlton Simmonds, Carpenter
Business means a lot to Carlton, and being in a competitive industry means staying on top of the game with his clients and employees. Carlton can use mobile money to fill orders and purchase goods from Francine. He can also send lunch money and allowances for his two teenage sons Carlon and Carlton Jr., and do person-to-person transfers to pay his six woodworkers.

With a host of barriers – including travel distance to banks, and the paperwork required to open an account – access to the formal banking sector is often a challenge for rural communities. In Jamaica, 47.93 per cent of the total population lives in rural areas, so it stands to reason that when mobile money moves these communities, it also moves the nation.

Did you know?
Mobile money is accessible on all types of mobile phones.

Being constantly on the go with a hectic schedule can be draining. With mobile money, you can simplify your life and take the hassle out of your day-to-day business transactions. Jamaica's mobile penetration is 105.5%*, which means that the stage is well set for mobile money to be a compelling option for financial services.  Wherever you are, whatever you do, mobile money is for you!

Did You know?
Mobile money is extremely secure. The money is not stored on the phone but rather in a mobile account, linked to your phone number.