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Transactions Made Easier With Digital Payment Wallet

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#Kingston, April 15, 2022 – Access to, and use of financial services will be made easier with the use of the digital payment wallet, Lynk.

Digital payment wallets are the platforms used to facilitate transactions of the Bank of Jamaica’s Central Bank Digital Currency (CBDC).

The CBDC is a digital form of central bank-issued currency and is legal tender that can be exchanged dollar for dollar with physical cash. Jamaica’s CBDC is called Jam-Dex, which stands for Jamaica Digital Exchange.

Lynk is currently the only approved wallet provider of the BOJ’s CBDC and is available through the National Commercial Bank (NCB).

Chief Executive Officer of TFOB (2021) Limited, a subsidiary of NCB Financial Group Limited, Vernon James, said Lynk is just like using regular cash, except it is in a digital form.

“Lynk will be everywhere, it’s easy to use, you’ll be able to use it in all the ways you use money now, except you don’t need to go to get it. You don’t have to go and get cash; you can just use it. It’s contactless, phone mostly…” Mr. James said.

He noted that the company has done its due diligence to ensure that the platform is safe.

“Lynk is as safe as any other electronic platform, but in particular, the very best. What you would expect from an NCB platform in terms of safety and security, you will get that with Lynk. We built the platform to be simple, easy to use. I’m going to go a little further, it’s going to be a joy for you to use; we want you to enjoy the process of doing your transfers and making your payments,” Mr. James added.

He pointed out that Lynk is built on three platforms, safety and security, ease of use and a simple onboarding process. Onboarding refers to the process of familiarising a new customer or client with the products or services of an organisation.

“Lynk is easy to onboard. It’s a digital onboarding process, you don’t need a bank account; it takes five minutes to onboard and create an account with Lynk. We use QR codes primarily, so you’ll be able to make your transfers instantly using your QR code. It’s as easy as sending a text message. No need for cash, no need to join lines, just transfer electronically and that is the future of business,” Mr. James said.

To use Lynk, persons will need to download the Lynk app to their smart phone. The next step is to verify your identity with a Government-issued identification card. This is then followed by the last two steps, which is to connect your bank and deposit your money into your Lynk account. Then you can send and receive money with Lynk.

During the recent Budget Debate, Finance Minister, Dr. the Hon. Nigel Clarke, demonstrated in Parliament how he could pay his barber using Jam-Dex on the Lynk platform.

Mr. James noted that Lynk will partner with merchants across Jamaica so that persons can pay for services.

“Regardless of which merchants, you should be able to go and use your CBDC. Now that’s a big benefit. Because instead of using cash, you can transfer your CBDC payments to these merchants seamlessly,” he added.

Mr. James said that another added benefit of Lynk, is that persons will be able to move from Jam-Dex to cash.

“Although we want to move away from cash, you’ll be able to go from CBDC to cash easily at any of our ATMs, and from cash to CBDC easily. But if you do need cash, you can easily cash in and out at any one of our ATMs,” Mr. James told JIS News.

A key milestone to be accomplished by Bank of Jamaica and the Government during the first quarter of the financial year is to bring legislation to Parliament to facilitate Bank of Jamaica being the sole issuer of Jam-Dex and for it to be recognised as legal tender.

The BOJ expects to add four more wallet providers by June.

CONTACT:  Lisa Rowe

Release: JIS

Caribbean News

COMMUNIQUE | Forty-ninth (49th) Regular Meeting of the Conference of Heads of Government of the Caribbean Community | Montego Bay, Jamaica

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Montego Bay, Jamaica, July 14, 2025 – The Forty-Ninth Regular Meeting of the Conference of Heads of Government of the Caribbean Community (CARICOM) was held in Montego Bay, Jamaica from 6-8 July under the chairmanship of Dr the Most Honourable Andrew Holness, Prime Minister of Jamaica.

Members of the Conference in attendance were: Honourable Gaston Browne, Prime Minister of Antigua and Barbuda; Honourable Philip Davis, Prime Minister of the Commonwealth of  The Bahamas; Honourable Mia Amor Mottley, Prime Minister of the Republic of Barbados;  Honourable John Briceño, Prime Minister of Belize;  His Excellency Dr Mohamed Irfaan Ali, President of the Cooperative Republic of Guyana; His Excellency Laurent Saint-Cyr, Councillor-President, Member of the Transitional Presidential Council, Haiti; Dr the Most Honourable Andrew Holness, Prime Minister of Jamaica;  Honourable Terrance Drew, Prime Minister, Federation of St Kitts and Nevis; and Dr the Honourable Ralph Gonsalves, Prime Minister of St Vincent and the Grenadines.

Dr Vince Henderson, Minister of Foreign Affairs, International Trade and Energy represented the Commonwealth of Dominica; Honourable Joseph  Andall, Minister for Foreign Affairs, Trade and Export Development represented Grenada; Honourable Veronica Dorsette Hector, Deputy Premier, represented Montserrat;  Honourable Alva Baptiste, Minister of External Affairs, International Trade, Civil Aviation and Diaspora Affairs  represented Saint Lucia; His Excellency Steven MacAndrew, Minister of Labour, Employment Opportunity and Youth Affairs represented the Republic of Suriname; Honourable Sean Sobers, Minister of Foreign and CARICOM Affairs,represented the Republic of Trinidad and Tobago.

Associate Members in attendance were Honourable E David Burt, Premier of Bermuda; Dr the Honourable Natalio Wheatley, Premier of the British Virgin Islands, His Excellency Gilmar Pisas, Prime Minister of Curacao; and Honourable Jamell Robinson, Deputy Premier of the Turks and Caicos Islands.

OPENING CEREMONY

The Opening Ceremony was held at the Montego Bay Convention Centre in Rose Hall, St James. The event featured remarks by leaders of the Community, and cultural items from several Jamaican performers. There was also a Declaration of solidarity from the CARICOM Youth Ambassadors for Jamaica which underscored their preparedness and desire to support the leaders of the Region in its development, prioritizing creativity, innovation and technology.

In her remarks, CARICOM Secretary General, Dr Carla Barnett noted that the collective action of CARICOM Member States has delivered many commendable results for the people of the Region, in human and social development, economic integration, foreign policy coordination, and security, which provide a useful roadmap for the way forward.

“Unprecedented global uncertainty, economic pressures, technological innovations that challenge our capacity to keep pace, climate vulnerability, and the needs of our young people, our women and future generations, compel us to act collectively, with courage and with conviction,” the Secretary-General said.

Prime Minister of Barbados and Outgoing Chair, Honourable Mia Amor Mottley noted that CARICOM has seen many challenges and urged the gathering to persevere and persist in efforts to advance and strengthen integration. Quoting from popular Jamaican artiste, Jimmy Cliff, she said “We can get it if we really want, but we must try and try and try.”

She pointed to support for Haiti, efforts to control disinformation, and the need to tackle crime and enhance citizen security, as some of the critical issues which the Community must continue to address.  “We must be resolute in preserving CARICOM as a Zone of Peace and reaffirm our commitment to working with the international community to promote de-escalation, uphold diplomacy, and pursue lasting solutions grounded in dialogue and mutual respect”.

In his remarks, the new Chair, Dr the Most Honourable Andrew Holness said his Chairmanship would focus on regional security, especially as it relates to transnational organised crime and gangs, noting that it is critical that a global war on gangs be declared similar to the war on terror. The Prime Minister called for concerted action to dismantle criminal networks and cripple their resources.

“Our theme: People, Partnerships and Prosperity – Promoting a Secure and Sustainable Future” captures the essence of our regional purpose. It reflects a profound truth, that security and resilience are not optional; they are foundations for prosperity; that people-centered development and strategic partnerships are not aspirational, but essential,” the Prime Minister said.

He cited climate justice and climate finance, mobilizing support for Haiti, and strengthening internal coordination and external partnerships as critical to the ongoing work of the Community. Prime Minister Holness also stressed the importance of engaging young people in shaping the decisions that affect their future. He reminded that it was important to engage them in a deliberate, sustained and meaningful manner.

The opening ceremony can be viewed at: https://caricom.org/49hgc/

The COMMUNIQUE in its entirety can be read here: Conference of Heads of Government of the Caribbean Community

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Caribbean News

CARICOM Moves Toward Unified Legislation on Social Media to Protect Children in the Digital Age

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Deandrea Hamilton | Editor

 

July 14, 2025 – With children and young people across the Caribbean spending unprecedented hours online, and increasingly exposed to harmful content, CARICOM Heads of Government have agreed to take collective action to protect the region’s most vulnerable. In their July 8 communique from the 49th Regular Meeting in Montego Bay, leaders committed to a regional framework for digital safety legislation — a move that signals a turning point in how Caribbean nations tackle the darker edges of the digital era.                                                                                                                                                                                                                   The new initiative comes amid growing concern over the psychological and emotional impact of social media on youth, including rising rates of anxiety, depression, and body image issues linked to algorithm-driven content and AI-generated imagery. Global studies have shown that children aged 8 to 18 spend over seven hours daily on screens, and that excessive social media use can lead to decreased attention spans, poor sleep, and increased exposure to cyberbullying and harmful trends.

CARICOM leaders noted with alarm the reduced content moderation efforts by Big Tech companies, and stressed the need to “safeguard the mental health and wellbeing of Caribbean citizens.”

To that end, they agreed to establish a Regional Digital Safety Commission, tasked with crafting legislative proposals and guiding national efforts to enhance online safety. This body will also navigate the complex territory of freedom of expression versus content regulation, aiming to strike a delicate balance between embracing technological advancement and protecting human dignity.

The move reflects a growing consensus across the region that digital transformation must come with strong ethical guardrails — and that small states, united, can influence global norms while protecting the minds and futures of their youngest citizens.

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Caribbean News

Loop News and SportsMax Shut Down as Digicel Exits Caribbean Media

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Deandrea Hamilton | Editor

 

Hundreds impacted across the region as Digicel pulls plug on major digital platforms

July 14, 2025 – In a stunning move that’s sending shockwaves across the Caribbean media landscape, Digicel has announced the immediate closure of its flagship digital news platform, Loop News, and the winding down of its regional sports broadcaster, SportsMax. The telecommunications giant is shifting its focus away from media and toward enterprise services, ending over a decade of regional journalism and sports coverage.

The announcement, made this week through social media and confirmed by multiple news sources, reveals that Digicel is effectively dismantling its media division. The shutdown of Loop News is immediate, while SportsMax will cease operations by August 8, 2025. The decision affects nearly 100 jobs across the region — including journalists, editors, producers, and technical staff.

Loop News, founded in 2014, quickly became one of the Caribbean’s most trusted digital news sources, offering real-time updates, multimedia features, and regional coverage that spanned politics, crime, lifestyle, and entertainment. With editions in Jamaica, Trinidad & Tobago, Barbados, St. Lucia, and other territories, Loop grew into a digital-first newsroom serving millions of Caribbean readers at home and abroad.

SportsMax, acquired by Digicel in 2011, held exclusive broadcast rights to major sporting events and leagues, including Premier League football, international cricket, and athletics — making it the go-to cable channel for Caribbean sports fans.

In a public statement, Digicel cited a “strategic shift” toward enterprise-level services, such as cloud solutions, cybersecurity, and managed IT infrastructure, as the primary reason for exiting the media space. The company described the closures as “difficult but necessary” to streamline operations and prepare for long-term sustainability in a competitive telecommunications market.

“These are not decisions we take lightly,” Digicel said in its statement. “However, in an ever-evolving digital economy, we must focus our resources on areas where we can create the most value for our customers.”

The response from staff and the wider media community has been one of disappointment and concern. Many expressed shock at the abrupt nature of the decision, and at the loss of two platforms that helped define Caribbean digital media over the past decade.

“I still can’t believe it,” one Loop editor said anonymously. “We worked hard to build something credible, regional, and relevant. This feels like more than a corporate shift — it feels like the end of an era.”

The closure raises broader questions about the future of independent, regional news media in the Caribbean. With Loop gone, there’s now a major gap in accessible, regionally connected journalism — particularly on mobile-first platforms.

As Loop’s website now carries only a farewell message, and SportsMax counts down its final weeks, Caribbean media consumers are left wondering: what comes next?

And more urgently — who will fill the vacuum left behind?

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