World Bank report shows Jamaica lagging behind in Latin America and the Caribbean in digital payments use

Jamaica is lagging behind the region in the use of digital payments, despite high levels of bank account ownership.

That’s according to a new World Bank report on digital finance in Jamaica.

The report shows that roughly 50 digital transactions per adult are made locally, compared to about 150 in some countries across Latin America and the Caribbean.

Practice Manager for Financial Inclusion and infrastructure at the World Bank Group, Harish Natarajan made the disclosure while presenting findings from a 2025 study at the report’s launch ceremony.

He noted that while many Jamaicans have access to bank accounts usage remains low, pointing to a gap between access and active participation in the financial system.

He pointed to several factors contributing to the gap including the absence of a clear framework for non-bank payment service providers as well as limited open finance regulations and weak data-sharing systems.