Lynk’s new feature, which allows for instant remittance collection through the app, has seen a surge in users since its launch on March 10th.
The app, which is the only wallet currently facilitating transactions with Jamaica’s Central Bank Digital Currency (CBDC), JAM-DEX, is in partnership with MoneyGram to make the remittance process easier for users.
Kemoi Burke, brand and sponsorship manager for Lynk, explained that the process is simple and involves no fees or lines.
The Lynk/MoneyGram partnership allows the sender to transfer up to $100,000 per day, and the receiver can easily move from digital currency to cash through National Commercial Bank (NCB).
John Matthew Sinclair, chief product officer at Lynk, said persons wishing to send money to Jamaicans from abroad, can do so at almost any location globally that has a MoneyGram outlet.
“The beauty about Lynk is that we are part of a large ecosystem. NCB is our banking partner and we now have access to their ABMs, which are open 24 hours. Once you have received that money from the sender through MoneyGram and you need the cash immediately, then you can easily go to an NCB ABM and withdraw the cash,” said Sinclair.
The administrators of the service plan on partnering with other remittance companies to improve the new offerings to their customers, pending approval by the Bank of Jamaica (BOJ).
Plans are also being made to allow local users of the digital wallet to send money overseas using the remittance feature.