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Jamaicans now have another cashless system at its disposal with MyCash, a digital wallet by Paymaster.
The official launch for MyCash took place recently and was welcomed and lauded by several stakeholders including the Minister in charge of Science, Energy and Technology, the Hon. Daryl Vaz.
MyCash allows for better financial management by enabling users to keep coupons, cards, and IDs easily accessible in one place. It also facilitates contactless checkout and improves citizens’ economic security by minimising theft and reducing the need to travel with cards or cash.
Individuals can manage their money securely and efficiently anywhere using the application on a mobile device. All that is required is internet connection.
Minister Vaz underscored that MyCash is a great option for accessing digital financial services where the user information is safe.
The Minister said; “All Jamaicans need and deserve access to digital financial services to do business, make their everyday lives easier, and contribute to the local economy. Congratulations to Paymaster and Digicel on this milestone.”
MyCash received the all-clear signal from the Bank of Jamaica after completing a mandatory pilot period.
According to the Minister, MyCash is “a world-class product that meets local and international standards.”
The application is available for download on the Apple and Google Play Stores.
In the meantime, the Minister reassured the public that his Ministry is reviewing the Cybercrimes Act with the aim of fully implementing the Data Protection Act, 2020, to protect persons who use technology such as MyCash.