PM Dr. Andrew Holness says transaction costs for online banking must be reduced

Prime Minister, Dr. Andrew Holness says transaction costs for online banking must be reduced, insisting that Jamaicans should not have to factor in fees when making digital payments.

The issue of fees in the banking system has been a concern with many of the view that the fees are too high.

Dr. Holness emphasizes that affordability is critical to expanding access to the financial system.

Dr. Holness also argues that Jamaica has not moved quickly enough to digitize its financial systems, stressing the need to accelerate efforts to make transactions faster and cheaper.

He was speaking at the launch of a World Bank report on digital financial inclusion and transformation in Jamaica, yesterday.