Concerns that the shift towards digital payments could give the Government greater visibility into Jamaicans’ spending present a challenge to wider adoption, raising questions about data privacy, financial fraud, and the safeguards needed to build public trust.
The issues were raised at the Institute of Chartered Accountants of Jamaica (ICAJ) conference where Mario Griffiths, division chief of the Bank of Jamaica’s Payment System and Money Services Oversight Division, and Sheree Martin, chief executive officer of NCB Financial Group, discussed the concerns surrounding the transition to digital transactions.
