Are you in search of a Jamaican Mobile Money Solution? this article takes a closer look at the various local mobile money options available and various respectable accompanied Prepaid MasterCard’s solutions.
We have not only provided a list of the best Jamaican Mobile money solutions but also all the best Payment Solutions, Prepaid Credit Card, and Banking Alternatives. These options are perfect for allowing payments but lack the valuable element of interest and thus should not be used in an investment or saving capacity.
Why Use a Mobile Money Solution? These solutions make Online Shopping, Bill payments, Mobile Phone Credit, Shopping, Transfers(Sending/Receiving), and Remittance a much easier undertaking.
To open an account with these platforms, most will require at minimum a Valid ID(Passport / Election ID / Drivers License) and TRN. In other cases, you will need additional info such as Proof of Address and/or Source of Funds Declarations may be added to the equation depending on the various verification tier requirements.
These are the current players in the Market after the exit of two players, Connect Mobile Wallet (2017) and GK MPay(December 2018).
Alliance Prepaid Mastercard
Alliance launched the Prepaid MasterCard in May 2018 with the aim of “providing the service for those on the island, who are not in the formal banking system”.
Alliance Financial Services offers remittance services through the local Alliance MoneyGram location. They also offer services such as its Student card, Valucard, and its “MyePayMeals” which are used in Universities, schools, and various businesses.
What do i need for an account?
Sign up for the Alliance Prepaid Mastercard by visiting any Alliance MoneyGram location island-wide or visit the Alliance Prepaid Mastercard website.
To open an account all you need is:
- Valid ID(Passport / Election ID / Drivers License)
- Proof of Address
- TRN
How and Where can I use this? (Usability)
Once your card is active, you can top up your card via any Alliance MoneyGram location islandwide and use your card to:
- Pay bills online
- Receive Remittances
- Receive Transfers from NCB, ScotiaBank or between Alliance Prepaid MasterCard
- Top up phone credit electronically
- Withdraw cash from ATMs
- Swipe at point-of-sale machines in stores
One thing to note about this card per their websites is that the car will only support “ATM Machines, online stores, and online bill payment platforms that accept MasterCard (compatible on websites that bill in Jamaican currency only)”.
Fees
The Alliance Prepaid Credit Card has a very affordable and balance fee structure with lows of $46 JMD and highs of $500 JMD.
- Loading funds to your Alliance Prepaid credit card attracts a fee of around $50 JMD while loading your card via a bank (BNS/NCB Online) has no fees.
- Withdrawals via Alliance Agent locations will attract a fee of around $50 JMD while ATM withdrawals, ATM Declines and ATM Balance inquires will attract a $65 JMD fee.
- Using your card at a POS(Point-of-Sale) Terminal which accepts MasterCard, An ePay POS Terminal and/or even Online transactions will not attract a fee.
- If you want to send the funds on the card to a Bank account or to another Card, this will attract a fee of around $116 JMD.
- Both the cards activation and its Cost are completely Free.
- There is a monthly account maintenance fee of $233 JMD on funds held on the card.
- If you want to replace a lost or stolen card, you will attract a fee of $500 JMD.
- Exchange rates may vary daily for transactions converted from other currencies.
Note: These feels are low but there are additional fees charged by merchants, financial institutions or ATM operators which can drastically affect your account balance across this and all the options on this list.
Mobile Apps and Availability
The ePay Mobile app is the dedicated Alliance Prepaid Mastercard app. The mobile app is currently only available for Android-powered devices via the Google Play Store.
Users of iOS-based devices can look forward to the launch of their future similar app on the App store per the “app coming soon!” notice placed on its Website.
Lasco Pay
Launched back in September 2019, Lasco Pay is a prepaid MasterCard offered by Lasco Financial Services and cobranded with Alliance Payment Services (ePay).
Lasco Financial Services is a local RIA & MoneyGram agent at Lasco Money stores islandwide. Beyond remittance services, Lasco also offers services such as Cambio/Foreign Exchange and Personal/Business/Consumer Loans.
Just as the previously mention Alliance Mastercard, The Lasco Pay Prepaid MasterCard is designed to make the lives of the unbanked and users of their existing products much easier.
What do i need for an account?
To get started on your new Lasco Pay account, you can either:
- Visiting the Lasco Pay Website
- Visiting any of the over 100 Lasco Money agent locations island-wide.
- Submitting required documents to [email protected] for verification.
- Via WhatsApp, complete a digitised version of the registration form and submit along with ID, TRN and a proof of address to 876-390-5452. (source)
The required documents of course being:
- Valid ID(Passport / Election ID / Drivers License)
- Proof of Address
- TRN
How and Where can I use this? (Usability)
Just as with the Alliance MasterCard, Once you have received your card, you top up your card visiting any Lasco Money store locations islandwide. You can use he card to:
- Pay bills online
- Receive Remittances via Lasco Money, MoneyGram and RIA
- Receive Transfers from NCB, ScotiaBank or between Lasco Pay Prepaid MasterCard
- Top up phone credit electronically
- Withdraw cash from ATMs
- Swipe at point-of-sale machines in stores
Fees
Just as before with Alliance, The Lasco Pay Prepaid MasterCard offers very low and affordable fees with lows of $40 JMD and highs of $500 JMD.
- Both Loading/Cashing in funds to your Lasco Pay Prepaid credit card via a Lasco Agent Location and via a bank (BNS/NCB Online) has no fees.
- All withdrawals inclusive of Lasco Agent Locations, ATM withdrawals, ATM Declines and ATM Balance inquires has a $65 JMD fee.
- Using your card at a POS(Point-of-Sale) Terminal which accepts MasterCard, An ePay POS Terminal and/or even Online transactions will not attract a fee.
- If you want to send the funds on the card to a Bank account or to another Card, this will attract a fee of around $115 JMD.
- Both the cards activation and its Cost are completely Free.
- There is a monthly account maintenance fee of $230 JMD on funds held on the card.
- If you want to replace a lost or stolen card, you will attract a fee of $500 JMD.
- Exchange rates may vary daily for transactions converted from other currencies.
Mobile Apps and Availability
The Lasco Pay app is available for Android-based devices via the Play store. Just as the notice on the alliance website for the future launch of an iOS supported app, Lasco Pay is also working and launching an iOS app in the future.
MyCash Jamaica
Also launched with the aim to eliminate the barriers of inclusion in Jamaica, the MyCash Jamaica App & Prepaid MasterCard was launched in August 2018 by the Sagicor Bank, Digicel Group (through its subsidiary Prism Services Jamaica), and Mastercard.
Note the fact: There is an American version called the Digicel MyCash App in partnership with the Metropolitan Commercial Bank which allows for the same benefits. This version allows for card loads at over 65,000 locations inclusive of 7eleven, Walmart, Walgreens and Dollar General locations just to name just a few. The app also provides the ability to send funds to Jamaica. The app is also available on the Google Play and App Store.
What do i need for an account?
To sign up for your new MyCash account, simply download the MyCash Jamaica app and follow the very quick and simple registration process.
The only documents that you will need are your Valid ID(Passport / Election ID / Drivers License) and TRN which gives you a Tier 1 verification Level.
What does each verification level give you?
| Tier 1 | Tier 2 | Tier 3 | |
| Account Limit | $50,000 JMD | $100,000 JMD | $150,000 JMD |
| Daily Spend Limit | $15,000 JMD | $40,000 JMD | $50,000 JMD |
If you want additional levels of verification, you are gonna need to provide a Declaration of Source of Funds(Level 2) and Proof of Address(Level 3).
Once you have registered, you can simply pick up your card by visiting any of the 16 Sagicor bank locations islandwide.
How and Where can I use this? (Usability)
As with any of the prepaid card options on this list, Users can top up their cards via a visit to the nearest Sagicor Bank location. You can use the card to:
- Pay bills online
- Receive & Receive Funds/Remittances (via Digicel MyCash App / MastercardSend feature.)
- Receive Transfers from Local Bank or between MyCash App
- Top up phone credit electronically
- Withdraw cash from ABMs/ATMs
- Swipe at point-of-sale machines in stores
Fees
The MyCash has very similarly low few just as the other cards mentioned on this list. Fees can be as lows of the subjection $2.30 JMD and highs of $460 JMD.
- Loading money to your MyCash Card via Sagicor Bank Branch and via a Sajicor Bank Drop-box attracts a $55 JMD fee.
- Loading funds to you MyCash account via a Bank Transfer (any local bank) does seem to have a fee. (The row is left blank on their website)
- Withdrawing funds from your card via a Sagicor bank branch has a fee of $35 JMD.
- Oddly, withdrawing funds via Sagicor ABM will cost your $35 JMD while using other local ABMs will attract a cost of $69 JMD.
- Withdrawal via International ABMs will also cost you a $69 JMD fee.
- While checking your accounts balance via the MyCash app is free, Checking your account via a Sagicor branch will attract a $175 JMD fee.
- If you ever check your accounts balance via a Sagicor or any other local ABM, his will attract a fee of $35 JMD.
- Each Person to Person transfer (MyCash-MyCash Transfer) will attract a 2.3% fee.
- Using your card to make eCommerce/Online purchases or POS(Point-of-Sale) Terminal purchases are Free.
- Using the app to make bill payments are Free (NB. marked a Waived which means the could potentially be a future fee if the makers of the app feel to add one)
- The cards activation is completely Free while the cost of your first card is Waived, yet another potential future fee should the makers see it fit.
- There is a monthly account maintenance fee of $115 JMD on funds held on the card.
- If you want to replace a lost or stolen card, you will attract a fee of $460 JMD.
- Exchange rates may vary daily for transactions converted from other currencies.
Mobile Apps & Availability
The prepaid car can be used at over 50 million locations in over 210 countries worldwide and not to mention the over 400 ATMs accross Jamaica.
The MyCash Jamaica mobile app is available on both the Google Play and App Store for download.
NCB Quisk
First implemented in 2010 and launched in 2016, NCB Quisk is a Complete mobile money solution offered by National Commercial Bank (NCB) and licensed from US-based Quisk Incorporated. The platform allows customers to pay for goods and services and send money using their mobile phones.
No Data nor mobile app is required to use the platform, you can use the service via SMS. You also have the choice of using the mobile app and Internet Portal.
What do i need for an account?
Your signup process will depend on whether you are an existing NCB account Customer or a new user.
New Customers should visit the nearest NCB brand with your mobile device, Valid ID and TRN.
NCB Customers have the benefit of simply just filling to the Quisk signup form with the relevant info inclusive of your name, your phone number, TRN number and other relevant information.
Whether you are a New customer or an existing NCB customer, once your info has been verified, you will then receive a an SMS with your temporary six[6] digit PIN.
You can the use your mobile phone number and this 6 Digit pin to login to the Quisk Online portal and mobile Apps.
NCB customers can then contact NCB customer care centre (888-NCB-FIRST) to link your existing bank account.
The platform is available to anyone over the age of 12 Years or older.
The following forms of ID are acceptable:
- Passport
- National ID
- Driver’s License
- Student ID
- Work ID
- Verified Passport Size Photo
- Letter from Doctor & Passport Size Photo
- Letter from Lawyer & Passport Size Photo
NCB Quisk has three account verification tiers: Starter, Standard and Premium depending on your payment needs.
| Starter (Tier 1) | Standard (Tier 2) | Premium (Tier 3) | |
| Account Limit | $100,000 JMD | $200,000 JMD | $300,000 JMD |
| Daily Spend Limit | $25,000 JMD | $50,000 JMD | $75,000 JMD |
| Required Documents | |||
| TRN Number | Yes | Yes | Yes |
| Valid ID | Yes | Yes | Yes |
| Source of Funds Declaration | No | Yes | Yes |
| Occupation/Line of Business Declaration | No | No | Yes |
| Proof of address Declaration (Recorded/Verified) | No | No | Yes |
Fees
NCB Quisk offers very reasonable fees in comparison to the other options on this list:
- Sending Money will attract a fee of 1% of the transaction amount + GCT.
- Receiving Money does not attract a few – FREE.
- Add/Loading Money from a NCB Bank account is Free.
- Adding/Loading money via a NCB iABM is also Free.
- Cashing out funds via a NCB iABM/ABM is Free.
- Paying for Goods & Services at NCB Point Of Sale is also Free.
- Paying Bills will also attract a Fee of 1% of the transaction amount + GCT.
How can i user this Platform?
- Add money – Linked savings/checking accounts, iABMs
- Cash out – NCB ABMs
- Pay for Goods & Services – at NCB merchants
- P2P – send or receive money from other mobile money customers
- Pay bills – pay your JPS bills using NCB Quisk
- Mobile betting – Supreme Ventures sports betting
- Add Credit To Your Phone
Mobile Apps and Availability
The Quisk mobile app is available on both the Google Play and App store.
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I hope this article was helpful in helping you to find the best Jamaican Mobile Money and Payment solutions.
If for any reason there are errors or any falsities made in this article, please offer your feedback in the comments or via twitter as this is not a static document and will continue to be updated going forward.
Also feel free to offer any options which we failed to list in this article or any feedback you would like to add, then feel free to leave a comment below or simply give us a tweet @bitvoxy.
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