Jamaican Transporters Keen To Adopt CBDC Payments
Transport companies in Jamaica have expressed interest in accepting payments in the digital currency issued by the nation’s central bank (CBDC).
According to a report from the regional media outlet Jamaica Observer, Aldo Antonio, co-founder and acting executive chairman of the National Transporters Alliance Group (NTAG), has been actively encouraging the adoption of Jam-Dex throughout the transportation industry.
According to Antonio, the CBDC can save costs for bus and taxi drivers, improve operational effectiveness, and lower security risks.
The Jamaican Central Bank launched Jam-Dex in 2022, but its adoption rate has been slow. Antonio believes that more customers are needed to make it a viable payment option. He suggests that food and transportation sectors can significantly increase everyday usage of Jam-Dex. Jamaica is working on enabling CBDC services on mobile phones for the general public. The failure to attract customers could discourage merchants and potentially lead to the abandonment of digital currency.
(With inputs from Shikha Singh)
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