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Cash payments hinder economic growth

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  • #16
    that may be so...however cashless doesn't mean credit or debit card...so although this bredda is stanning for mastercard & their 3%..he is right...i only use cash (not safe to use credit or debit in jamaica because of cybercrimes) because jamaican society is slow to adopt new technology...anywhere i go in jamaica my first option is to use quisk https://www.jncb.com/quisk/ ...it levels the playing field...gives small business a way to expand...they can offer sales on the internet & have a way for customers to pay without a credit card...only about 30% of the population has a credit/debit card...that's why e-commerce in jamaica is stagnant...

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    • #17
      In a lot of case it all comes down to the fee that the banks are charging.
      I don't keep cash either but I keep away from the excessive and hidden fees.

      Master Card is been self serving here.
      • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

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      • #18
        of course mastercard is being self serving...that doesn't change the fact that what the rep said is correct...mobile money will revolutionise small business & e-commerce in jamaica...quisk is mobile money...you use your cell phone to pay for goods by transferring mobile money...free to receive & 1% fee to send money...so if you take a taxi you just quisk the money to the taxi driver's phone...taxi man now doesn't have to worry about getting robbed on the road...now i can start a small business online & sell products to the 70% of jamaicans who don't have access to a credit card...there are no excessive or hidden fees...
        Last edited by Bricktop; November 3, 2018, 02:36 PM.

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        • #19
          I can deal with that. As I said I use Zelle which is similar in the states.

          The only thing we have to worry about is at some stage some unauthorise person get a hold of the database but that is with all databases.
          • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

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          • #20
            it uses blockchain...so it uses a decentralized public database & records are encrypted...

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            • #21
              understand all of that but there is always some way to break it or find some vulnerability. Just not done yet.
              • Don't let negative things break you, instead let it be your strength, your reason for growth. Life is for living and I won't spend my life feeling cheated and downtrodden.

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              • #22
                Originally posted by Lazie View Post
                I started reading this last night and the word that came to mind was ......"Really?!!!"
                Lol. I said the same thing. Only in Jamaica an idiot would be allowed to make such a statement and not chased out of town. INCREDIBLE!!@

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                • #23
                  you all are so clueless it's not funny...a cashless society gives the poor & unbanked a chance at life...what you don't understand bout that...how yuh fi a chat foolishness & waan call other people idiot?
                  Last edited by Bricktop; November 4, 2018, 02:25 PM.

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