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Transactions Made Easier With Digital Payment Wallet

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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.

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Marcel
Marcel
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3 years ago

This should be interesting

Businessuite Women

Data Mavericks of the Caribbean: Raquel Seville & Dataffluent’s Visionary Rise

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The Genesis of Dataffluent
In early 2024, Jamaican technologist Raquel Seville founded Dataffluent Limited to address a critical void: Caribbean markets lacked reliable, structured financial data. The startup’s mission is audacious yet essential—to “democratise data for underserved markets,” empowering investors, analysts, and companies to navigate with clarity in regions traditionally seen as opaque .

Within months, Dataffluent built an MVP focused on the top 40 companies listed on the Jamaica Stock Exchange; by fall 2024, it had secured entry into the Techstars Atlanta/New Orleans accelerator, accompanied by US $120,000 in funding from J.P. Morgan partnerships .

What the Platform Offers
Dataffluent’s platform is a three‑step powerhouse:

1. Ingest & Normalise
Consolidating structured and unstructured data—from filings, reports, and press coverage—then standardising variables to facilitate accurate comparisons and analysis .

2. Interactive Dashboards
Merging fundamental analysis, technical indicators, sentiment metrics, and peer benchmarking into intuitive, visually-rich dashboards—cutting research time by up to 95% .

3. AI-Powered Insights & Forecasts
Delivering machine learning–driven models and predictive analytics tailored to individual risk tolerances and portfolio objectives .

This combination equips users with personalized, actionable guidance on regional equities—an offering rare in emerging markets .

Growth Through Validation & Recognition
Dataffluent didn’t just emerge; it validated its value quickly. In early 2025, the startup clinched third place at the Fintech Islands FiX2025 pitch competition in Barbados, earning US$2,500 and praise for unlocking high-potential Caribbean opportunities

Beyond accolades, inclusion in the Techstars Program positioned Dataffluent within a global network of mentors, investors, and co-founders, amplifying its resources and reach

In Her Own Words: Bold Ambition
On ICT Pulse Podcast (Episode ICTP‑338), Seville elaborated:

“Data‑driven market intelligence is still underdeveloped in the Caribbean… being able to provide clients with accurate, real‑time data… is essential in driving the region’s economic growth and increasing its economic resilience and independence.”

Her remarks underscore a philosophy rooted in regional transformation: data infrastructure isn’t just a tech challenge—it’s a pathway to autonomy and prosperity for Caribbean economies.

Women in Tech & Leadership
Prior to Dataffluent, Seville helmed BI Brainz’s Caribbean arm, training over 10,000 professionals and authoring a technical guide on SAP OpenUI5

But her influence goes beyond curricula; as a vocal advocate for women in tech, she regularly shares candid narratives of resilience—outlining the often-unseen trade-offs of balancing career, health, and family .

Strategy: Bridging Gaps & Scaling Horizons
Seville’s strategy centers on two complementary fronts:

Close the Confidence Gap: By arming investors with robust data and smart analysis, the company seeks to elevate investor participation—currently hovering at about 10% in Jamaica, versus over 60% in developed markets .

Expand Geographically: In 2–3 years, Dataffluent aims to replicate its model across regional exchanges (Trinidad & Tobago, Barbados, Eastern Caribbean), addressing a universal data deficit in emerging economies .

Why It Matters
For Investors: The platform provides tools once reserved for global markets—enabling Caribbean investors to conduct rigorous, data-driven analysis locally.

For SMEs & Governments: Actionable market data means smarter capital allocation and stronger economic planning.

For Caribbean Economies: A measurable boost in GDP growth is possible as data transparency fosters investment, innovation, and competitiveness .

Look Ahead
As Seville and her team evolve Dataffluent from beta to commercial product, the vision is clear: establish the firm as the region’s trusted financial intelligence engine. With continued Techstars support, regional pilots, and incoming pilot customers, 2025 looks to be the year Dataffluent moves from promise to prominent plotter of Caribbean capital flows.

Final Take
Raquel Seville is more than a data entrepreneur—she’s a catalyst for transformational growth. With Dataffluent, she’s not just building a tech company; she’s architecting a new era of transparency, participation, and economic resilience in markets long side-lined by data scarcity. It’s a story of ambition, precision, and regional uplift—and Fortune readers should take note.

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Businessuite Special Report P4 | Homegrown Disruption: InterMetroONE & Walkbout.com Position Jamaica’s Answer to Uber–Airbnb

Now is the time for SMEs, associations, and government to align—ensuring that if Uber and Airbnb ever arrive together, Jamaica’s own ecosystem remains vibrant and in control.

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Introducing a Local Super App Alternative
InterMetroONE— a SuperApp under RedPlate Group Limited—offers air travel transfers, coach rides (like the upcoming JUTA Express), taxis, parcel courier service, groceries, and more, all in a single platform. In parallel, Walkbout.com is launching guided local experiences and cultural tours, tailored to small hotels and boutique hosts—positioning itself as a geolocal, authentic alternative to Airbnb Experiences .

Together, these two Jamaican startups hope to form the first fully integrated, locally led travel superapp—a provider-owned ecosystem unifying ground transport, tours, and boutique lodging—on Jamaican soil.

Why This Local Startup Could Succeed

1. Homegrown & Compliant
InterMetroONE already partners with national operators—notably JUTA Express launching in 2025—maintaining regulatory standards and local trust .

2. Multi-Service “One-Stop” Solution
Unlike global platforms, this app includes:
• Scheduled luxury bus and coach routes, with real-time tracking and no overcrowding
• Airport-to-hotel transfers, group charters, and executive vehicles
• Courier, grocery delivery, and soon,
• Walkbout local experiences—where travelers can engage local guides for deep-dive tours

3. Strengthening Small Operators
By aggregating bookings, logistics, and marketing, InterMetroONE can enable boutique hotel owners and taxi drivers to collaborate—without a Silicon Valley middleman. This could reduce leakage of commission and retain economic value in Jamaica.

Voices from the Ground

“Buses that run on time and aren’t overcrowded? That’ll be a game changer,” says a Montego Bay commuter, reflecting public frustration with unreliable transit

“We tried privatizing… coaster buses… commuting… nightmare. Regulation is the key.”

These voices underscore critical demand for reliable, regulated, privately managed transport systems like InterMetroONE.

Winning Together: A Roadmap for Collaboration

To make InterMetroONE–Walkbout successful for all stakeholders, local operators should:

1. Adopt Platform Tools
o Taxi associations, guesthouses, and tour guides should integrate into the app to capitalize on airport transfers, bus scheduling, and tours.

2. Bundle Services
o Boutique hotels can offer “Stay + Transport + Tour” packages using Walkbout experiences and InterMetro transfers as a single SKU.

3. Win Trust via Quality & Compliance
o Upfront certification, training, and standardized pricing under one local brand will build trust and consistency—unlike fragmented global platforms.

4. Promote Data-sharing & Feedback
o Operators can co-develop service improvements via shared metrics—e.g. tourist route demand, seasonal peaks—benefiting all.

5. Leverage Community Networks
o Word-of-mouth remains powerful. InterMetroONE can host info sessions in parishes to onboard small providers and build local ambassador networks.

Policy Must-Haves: Enabling the Local Answer
To support this model, five critical government measures are recommended:
1. Digitization Grants – Provide micro-grants or loans for small operators to access certification, insurance, app training.
2. Regulatory Parity – Ensure InterMetroONE offers drivers and guides the same professional license standards as JUTA—a level playing field.
3. Revenue Reinvestment – Structure tourism taxes or fees to match platform growth, ensuring earnings stay within local economies.
4. SME Networks – The Ministry of Tourism should facilitate full operator onboarding into the platform—including training programs, public trust campaigns.
5. Monitor Economic Leakage – Commission an independent impact study on how much tourist spend stays local versus platform-bound.

Vision: A Jamaican Model for the Caribbean
If successful, InterMetroONE and Walkbout can be more than a Jamaican solution—they could become a regional standard, adaptable to other Caribbean islands seeking locally anchored digital economies.

Call to Action: How Your Business Can Join the Journey
• Small hotels: Propose pilot transport + experience packages this summer.
• Taxi & bus operators: Partner with InterMetroONE as certified drivers or fleet providers.
• Tour guides: Join Walkbout.com to bring unique, heritage-led experiences.
• Policy-makers: Prioritize digital tourism frameworks and SME support.

Businessuite Online Summary
• A Jamaican-led, regulated, fully integrated travel app could beat global disruptors by staying local, compliant, and collaborative.
• Now is the time for SMEs, associations, and government to align—ensuring that if Uber and Airbnb ever arrive together, Jamaica’s own ecosystem remains vibrant and in control.

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Businessuite Special Report P3 | Uber x Airbnb: A Strategic Alliance That Could Redefine Jamaica’s Travel Industry – But At What Cost?

The future of Jamaican tourism lies in its ability to integrate into global digital ecosystems without sacrificing local livelihoods. The time for public–private dialogue is now.

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“This Could Either Integrate Us Into A Global Ecosystem Or Render Us Obsolete Overnight.”

That’s how Senior Tourism Executive, describes the possibility of an Uber–Airbnb strategic partnership, which would see the world’s two largest sharing economy disruptors combine their offerings into a seamless, app-based travel experience.

The Global Vision, Local Disruption
Uber Technologies, Inc. is the world’s largest ride-hailing platform, operating in over 70 countries and 15,000 cities.
Airbnb, Inc. is the dominant online marketplace for homestays and experiences, with more than 150 million users globally.
In Jamaica, Uber’s entry has challenged traditional taxi associations such as JUTA, Maxi Tours, and JCAL, while Airbnb has democratized hospitality, enabling homeowners to become hoteliers almost overnight.

What Would This Partnership Look Like?
• Integrated Bookings: Guests booking an Airbnb in Montego Bay could automatically arrange an Uber pickup from Sangster International Airport.
• Bundled Experiences: Uber could launch curated island tours in partnership with Airbnb hosts.
• Data Sharing: The companies could integrate user preferences to personalize accommodation and mobility recommendations.

Potential Risks for Local Operators

Transportation Sector:
“Uber already undercuts our rates. If they join with Airbnb, we could lose airport transfers and local tours, our bread and butter,” warns Michael Morgan.
Without rapid digitization, traditional operators risk losing market share to app-based models offering transparency, safety tracking, and instant booking.

Hospitality Sector:
While many small Airbnb hosts would benefit from integrated guest mobility, large resorts fear losing exclusive transportation revenues.
“We spend millions annually on guest logistics – this will force us to rethink that model,” says a senior operations manager at a leading all-inclusive resort group.

Policy Recommendations for Government Action
Businessuite spoke with industry stakeholders, yielding five critical policy recommendations:

1. Level Licensing Requirements:
Ensure Uber drivers meet similar safety, insurance, and professional standards as licensed JUTA and Maxi Tours operators.

2. Create a Digital Tourism Regulation Framework:
Establish clear guidelines for platforms like Airbnb to protect guests and ensure tax compliance without stifling micro-entrepreneurship.

3. Incentivize Local Digital Transformation:
Provide low-interest financing or technical grants to traditional operators for app development, fleet management systems, and customer experience upgrades.

4. Negotiate Platform Partnerships with Local Associations:
The Ministry of Tourism and Transport Authority should broker agreements ensuring local tour and transport operators are included in platform offerings.

5. Assess Economic Leakages:
Study the net foreign exchange impact of platform commissions exiting Jamaica, balancing digital convenience with national economic interests.

Business Models Are Evolving

Traditional Taxi Associations:
Exploring white-label app solutions to modernize dispatch and payments.

Airbnb Hosts:
Excited at the prospect of seamless transportation offerings, increasing guest satisfaction and repeat bookings.

Hotels & Resorts:
Likely to resist integration to protect in-house transport revenues, while quietly exploring their own mobility partnerships.

Businessuite Final Take

“When global giants like Uber and Airbnb combine forces, there are both opportunities and threats. Jamaica must act swiftly to protect local entrepreneurs while embracing digital innovation to remain competitive.”

The future of Jamaican tourism lies in its ability to integrate into global digital ecosystems without sacrificing local livelihoods. The time for public–private dialogue is now.
By Businessuite Contributor

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Businessuite Special Report P2 | Disruption in Jamaica: Uber & Airbnb Business Models

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 Uber & Airbnb Business Models

Uber
• Democratizes taxi services by removing medallions and enabling app-based ride hailing, surge pricing, and real-time tracking
• In Jamaica—particularly Kingston and Montego Bay—Uber operates alongside traditional taxis. While available, its adoption faces resistance from established associations like JUTA and Maxi Tours

Airbnb
• Transformed lodging from hotels to unique, community-based stays, leveraging platform scale, ratings, and dynamic pricing .
• In Jamaica, it fuels opportunities for locals to monetize spare rooms or guesthouses, while raising concerns over inconsistent quality, safety, and pricing

Rationale for an Uber–Airbnb Strategic Alliance

1. Seamless Integrated Travel Package
• Users booking accommodation via Airbnb could seamlessly arrange Uber airport pickups, or access local tours via Uber’s network.
• Mirrors past partnerships (e.g., Uber–Hilton “Local Scene”) to link mobility and lodging

2. Enhanced Network Effects
• Uber expands reach into more regions when integrated with Airbnb’s guest base; Airbnb gains appeal through complementary mobility options .

3. Data & Recommendations
• Shared insights on guest habits and mobility needs can optimize dynamic pricing, itinerary suggestions, and cross-selling of experiences

4. Diversification of Services
• Development of bundled offerings—e.g., “stay + rides + experiences”—increases engagement and mitigates reliance on single revenue streams .

Impacts on Jamaican Transportation & Hospitality

Transportation Sector
• Traditional operators (JUTA, Maxi Tours, JCAL) may lose diversified tourist traffic to Uber unless they evolve through:
o Adopting app-based dispatch systems,
o Offering consistent pricing,
o Ensuring service quality and credentials (e.g., lowered street flagging).
• A partnership could pressure local services to modernize or form alliances with Uber for continued relevance.

Hospitality Sector
• Small-scale accommodations (e.g., guesthouses, boutiques) could benefit from mobility integration, differentiating themselves from large resorts.
• However, all-inclusive resorts might resist relinquishing control over transportation, potentially lobbying against integrated offerings.

Local Entrepreneurs
• Gains: entrepreneurs offering stays and tours could access Uber integration, reaching more guests.
• Risks: platform dominance may overshadow local competitors, making standing out more difficult.

Tourist Experience
• Better on-island exploration: less reliance on private drivers or group tours, improving affordability and convenience.
• Potential downsides: if Uber–Airbnb prices premiumize, local chauffeur/tour incomes could decline.

Policy & Regulation Considerations

1. Justice in Public Service Licensing
o Should Uber drivers be required to secure professional licenses like red plate taxis?
o Regulating Uber’s “partner model” to protect labour rights without overburdening drivers

2. Quality & Safety Standards
o For Airbnb: establish regulations around safety checks, insurance, and transparent fees to build trust .
o For Uber: enforce background checks, vehicle inspections, and fare transparency to guard consumer interest.

3. Protecting Local Economies
o Government tax relief, subsidies, or capacity-building for local taxi unions to digitize operations.
o For Airbnb hosts: consider differential GCT treatment or micro-tourism licensing to support smaller operators.

4. Balanced Tourism Strategy
o Jamaican government should balance “bubble tourism” from resorts with broader community access.
o Dedicate spaces/services for locals, incentivize local mobility adoption in tourism zones.

5. Collision vs Collaboration
o Encourage partnerships between Uber/Airbnb and JUTA/Maxi Tours to incorporate local operators into the platform, avoiding exclusionary practices.

Mozilla: Future Business Model Evolution

Uber:
• Could launch “Uber Tours” or “Uber Experiences” in partnership with Airbnb hosts, expanding its Uber Freight and Eats diversification .
Airbnb:
• Could integrate mobility into booking—“Book and ride”—or add value via curated transport options around stays.
Local providers:
• Opportunity to “Uber-ify” via partnerships—digital-first dispatch, quality certification, branded chauffeur services linked to listings.

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India’s 10-Minute Delivery Boom: A Blueprint for Disruption—and a Wake-Up Call for Caribbean Courier Companies

While the Caribbean market differs significantly in terms of geography, population density, and infrastructure, India’s 10-minute delivery trend signals a major shift in consumer expectations and service standards that cannot be ignored. Caribbean courier and logistics companies must take this as a call to evolve or risk irrelevance.

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India is currently experiencing a radical transformation in its retail and logistics sectors, driven by the explosive rise of quick-commerce (q-commerce) and the 10-minute delivery promise. Platforms like Blinkit (Zomato), Zepto, Swiggy Instamart, and Flipkart Minutes are reshaping consumer expectations, retail operations, and supply chains through hyperlocal fulfillment and lightning-fast logistics. As the trend spreads across urban and tier-2 Indian cities, it offers both a glimpse into the future of delivery and a warning for other regions—including the Caribbean.

Inside India’s 10-Minute Delivery Revolution

The delivery model hinges on speed, convenience, and proximity:

  • Companies now offer a growing range of products—from groceries and snacks to electronics and pharmaceuticals—delivered in under 10 minutes.

  • Consumers, especially Gen Z and millennials, are driving demand for instant gratification, backed by digital platforms and mobile-first lifestyles.

  • The rise of micro-fulfillment centers or “dark stores”—small warehouses strategically placed within dense neighborhoods—makes this model viable and scalable.

  • AI-driven inventory management, smart rider dispatching, and urban logistics innovation are pushing the boundaries of traditional supply chains.

As a result, India’s urban logistics infrastructure is being reshaped, and tier-2 and tier-3 cities are becoming growth frontiers for quick-commerce and smart warehousing.

Implications for Caribbean Courier and Delivery Companies

While the Caribbean market differs significantly in terms of geography, population density, and infrastructure, India’s 10-minute delivery trend signals a major shift in consumer expectations and service standards that cannot be ignored. Caribbean courier and logistics companies must take this as a call to evolve or risk irrelevance.

1. Rising Expectations for Speed and Convenience

Consumers across the Caribbean—particularly in urban areas and among younger demographics—are becoming accustomed to same-day or next-day delivery through global platforms like Amazon, Shein, and even regional players. As q-commerce normalizes faster fulfillment, local consumers will begin demanding shorter delivery windows, even for basic items.

Action: Caribbean courier companies must optimize last-mile delivery using routing software, rider apps, and hyperlocal delivery hubs to reduce travel time and improve efficiency.

2. Opportunity for Micro-Fulfillment and Smart Warehousing

The Indian model shows the power of small-scale, decentralized warehousing. In Caribbean cities like Kingston, Port of Spain, Bridgetown, and Nassau, underutilized retail spaces and urban properties can be converted into dark stores or inventory depots to support fast local fulfillment.

Action: Logistics players and even supermarkets or pharmacies should collaborate to build shared micro-warehousing infrastructure, possibly using a cooperative model to manage costs and logistics.

3. Platformization and Tech Partnerships

Q-commerce in India is driven by advanced tech platforms, real-time inventory systems, and intelligent dispatching. Many Caribbean companies are still operating on legacy systems with little digital integration.

Action: Courier services must invest in tech-enabled platforms—either by building in-house apps or partnering with regional tech startups—to offer app-based ordering, real-time tracking, and integrated payment solutions.

4. Gig Economy and Flexible Workforce Models

India’s delivery model depends on a mix of full-time and gig delivery riders, supported by incentives and flexible shifts. The Caribbean’s informal workforce presents a similar opportunity.

Action: Embrace a gig workforce model with structured onboarding, safety protocols, and performance incentives—without compromising rider well-being.

5. Regional Logistics Integration

Small market sizes and geographic fragmentation in the Caribbean make it difficult to achieve India-style scale. However, regional integration—via a Caribbean logistics alliance or digital fulfillment network—could increase efficiency and reduce cross-border delivery costs.

Action: Policymakers and private players should explore multi-island logistics hubs, shared air/sea freight routes, and cross-border fulfillment platforms.

Challenges and Considerations

  • Urban infrastructure in Caribbean cities is often unprepared for high-frequency delivery services; road congestion and informal address systems remain issues.

  • High import dependency makes local warehousing more complex; inventory planning needs to factor in shipping times and customs clearance.

  • Worker rights and labor protections must be addressed early to avoid India’s growing criticism over gig worker exploitation.

  • Sustainability and profitability need to be prioritized; Caribbean companies cannot afford long-term losses in pursuit of unsustainable speed.

Conclusion: Learn, Localize, Lead

India’s 10-minute delivery boom presents a compelling case study in innovation under pressure. For Caribbean courier companies, the key takeaway is clear: consumer behavior is changing fast—and local businesses must move faster.

Rather than trying to replicate India’s model exactly, Caribbean firms should localize quick-commerce strategies, leverage technology, and reimagine urban logistics in ways that reflect the region’s unique strengths and constraints.

The companies that act now to digitize, decentralize, and adapt will not only survive but could lead a Caribbean logistics transformation—setting new regional benchmarks for speed, service, and customer satisfaction.

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