Status
Piloted or planned
Data Exchange System Name
JDXP (Jamaica Data Exchange Platform)
Data Exchange System link
If a RTPS exists
Yes
Vision: PSP interoperability
Yes
Digital ID System Name
National identity (NIDS)
ID System link
Name (Payment)
CBDC (Jam-DEX) + Digital Wallets (Lynk, National Commercial Bank, Jamaica National)
URL (Payment)
Region
Caribbean
# of participants
2023- 200K users, 10K merchants
AML law
Yes
Bank participation in network
Yes
Centralised fraud management system?
Unknown
Consumer protection law
Yes
Governor
Central bank/ Financial regulator
Instant settlement system/ platform
Yes
Non-bank participation in network
Yes
Notes
Account-based CBDC Biometric ID based digital wallet registration While 2-3 "providers" of digital wallets have been registered, only one is reportedly used (Matthew) Reports indicate the goal to use JDEX for G2P transactions in the near future. Financial crisis has driven up digital payment use, partly through Russia-backed card network and partly through government experiment with cryptocurrency. Weak currency has challenges its development.
Offline transactions
Unknown
Operator
Central bank
QR-based transactions
Unknown
Reporting forum/ website/ form
Unknown
Rules: data handling rules for PSPs, users
Unknown
Rules: data leak notifications
Unknown
Rules: participation conditions
Unknown
Rules: recourse mechanism
Unknown
Rules: transaction recall
Unknown
Settlement systems
Transaction cost
0
Transaction types
P2P
P2M
Value (Year-USD)
2022- 2.2 M USD
Volume (Year- Volume)
Unknown