Mastercard Returns to Jamaica With Mastercard Day

Mastercard, a global technology company in the payments industry, returned to Jamaica for its Mastercard Day earlier this week.

The event was designed to reinforce Mastercard’s commitment to fostering digital transformation in Jamaica and the Caribbean.

The company says it collaborated with government entities, financial institutions, and digital enablers to unlock emerging trends shaping the future of payments, with a focus on empowering SMEs.

Country manager for Mastercard Jamaica, Trinidad and Tobago, Barbados, and Eastern Caribbean, Dalton Fowles, says the company is proud to stand alongside its financial ecosystem partners to enable inclusive growth.

According to Mastercard, non-digitised payments create hidden costs and inefficiencies for small businesses, limiting their growth and competitiveness in a rapidly digitising market.

A newly released white paper commissioned by Mastercard sheds light on a US$448 billion digital payment opportunity in the consumer-packaged goods, CPG, industry alone.

The study was conducted across 11 countries in the Latin America and Caribbean region and the United States.

Mastercard says an emerging fintech ecosystem and growing interest in mobile wallets among Jamaican consumers reinforce commerce digitisation throughout the Caribbean.