Jamaica and the world are undergoing change–change which is inevitable for the advancement of our society. A part of this change involves cashless technology, like digital wallets,” says Kevin Chin-Shue, Head of MyCash and Paymaster.
Chin-Shue was speaking about the newest digital wallet to the country that allows Jamaicans to send cash for free across the country, pay bills, top up to their phones and add funds through Cash In transactions using their existing debit or credit Visa or Mastercard or at MyCash agents island wide, and manage their money safely want when they want, with ease, convenience and security.
He compares the transition from cash to digital wallets, to the transition of landlines to cell phones and then from cell phones to smartphones, stating “people were once scared of smartphones, and now smartphones are a critical part of our everyday lives.”
Digital wallets like MyCash by Paymaster, offer reliable convenience for every Jamaican, and let’s face it–convenience is king in a post-Covid reality.
“MyCash by Paymaster offers users safety, convenience and the easy transfer of funds, without the need to visit physical store locations or the need to walk around with large sums of cash.” Chin-Shue said.
The MyCash app by Paymaster launched on March 28th, and there are already more than 70,000 users registered for the app, which can be downloaded via Google Play and App Store.
The Government of Jamaica is also in full support of the cashless revolution. During Prime Minister Holness’ presentation on Thursday, May 31, at the Inter-American Development Bank (IDB) Government Digital Transformation in Jamaica event, held at the AC Hotel in St Andrew, he reacted to critics, rumors and the growing suspicion among segments of the Jamaican society who recently raised their concerns, especially online and on social media, about a conspiracy theory surrounding a cashless agenda.
“There is no attempt by the Government to remove cash, meaning paper money, from the system… This unnecessary and unreasonable and very dangerous trend that is emerging to keep Jamaica out of being on the cutting edge of development, and, as I said, it is very hypocritical because the same people who are trying to prevent you from using technology are using technology,” Holness stated.
Chin-Shue couldn’t agree more.
MyCash is a service available to all Jamaicans from all walks of life, and stands to make the country a more productive and practical place to live, especially in today’s ever-changing society.
“MyCash by Paymaster offers a range of benefits for all Jamaicans, with its user-friendly interface, free MyCash-to-MyCash cash transfers, bill payment options to over 200 billers, mobile top-up services, an extensive agent network and accessibility to users across the country, and zero-rated accessibility to your wallet when you dial *172# from any Digicel phone” explains Chin-Shue.
“With MyCash, Jamaicans do not have to stand in line anymore, or drive to various locations to make payments for services. It can all be done online and through Smartphones with the touch of a button,” he adds.
Advantages of using the MyCash app by Paymaster
- Ease of Use: MyCash provides a user-friendly interface that is easy to navigate, making it accessible to people of all ages and tech-savviness. To register, all you need is a phone number, TRN (Taxpayer Registration Number), full name, and date of birth. This streamlined registration process ensures that anyone over the age of 18 can quickly create an account and start using MyCash by Paymaster.
- Cashless Transactions: With MyCash, you can say goodbye to carrying around physical cash. By digitizing your cash, you can conveniently manage your finances using your phone. This eliminates the need for cash handling, reducing the risk of loss or theft.
- Free Cash Transfers and Cash Ins: One of the standout features of MyCash is its ability to add cash to your wallet, and send cash across Jamaica without any transaction fees. No matter where your family or friends are located, if you need to send money fast, send MyCash-to-MyCash quickly and at no additional cost. This feature makes it an attractive alternative to inconvenience of cut off times with ACH and RTGS and costly wire transfers.
- Bill Payments: MyCash simplifies the process of paying bills. Whether it is electricity, water, cable, or other utilities, you can conveniently settle your bills through the MyCash app. This eliminates the need for physical visits to payment centers or queuing in long lines, saving you time and effort.
- Mobile Top-Up: MyCash by Paymaster enables you to easily top up your Digicel phone number or any other participating mobile network. Whether you need to recharge your own phone or send credit to someone else, you can do it instantly using the funds in your MyCash wallet. This feature ensures that you stay connected at all times.
- Accessibility: MyCash provides a wide network of agents throughout Jamaica where you can cash in or cash out. These agents act as physical points of contact where you can convert cash into digital currency or vice versa. This widespread presence ensures that MyCash is accessible to individuals in both urban and rural areas, promoting financial inclusion across the country. Additionally, MyCash is working on enabling the possibility to add cash into their wallet using their existing debit or credit Visa or Mastercard from any Jamaican bank.
- Security and Privacy: MyCash incorporates robust security measures to safeguard your financial transactions. Your account is protected with advanced encryption and authentication protocols, ensuring that your personal and financial information remains secure. Additionally, MyCash adheres to strict privacy policies, respecting your confidentiality and only sharing data when required by law.
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