Overview

Jamaica currently enjoys a liberalized, robust telecommunications sector and has one of the highest tele-densities in the world with mobile penetration exceeding 100%. This ubiquitous Mobile infrastructure offers great promise as a Low-cost delivery channel for a range of Mobile Financial services.

The Mobile Financial Services Conference that was held on December 10, 2010, brought together a cadre of international experts expertise and experience in this domain, together with local industry stakeholders and practitioners, to elucidate a range of issues (regulatory, commercial and technical) with the shared vision of of establishing the most effective approach for the delivery of mobile commerce/mobile banking services in Jamaica.

Following on the 2010 Conference, Solutions for Society, a UWI Think-Tank, in collaboration with the Mona School of Business undertook to develop a comprehensive guide to assist policymakers in crafting the appropriate framework for the broad-based introduction of mobile financial services in Jamaica.

Informed by extensive stakeholder consultation, international benchmarking and a national survey of the “unbanked” population in Jamaica, the findings of the study will be presented at the Mobile Financial Services Conference - 2011, to be held at The University of the West Indies (Executive Seminar Room, 3rd Floor) on Monday, December 12, 2011, 8.30 am - 12.30 pm.

The Conference will address several key issues:

  • What is the most appropriate model for an inclusive, broad-based Mobile Payments System in Jamaica?

  • The nature of the "unbanked" in Jamaica - circumstances or choice?

  • What is the economic opportunity associated with Mobile Financial Services?

  • Examining the potential for using the mobile phone for the delivery of PATH/Pension payments

The MFS Conference is being organized and facilitated by the University of the West Indies, Mona, through the Mona School of Business (MSB) and Solutions for Society, in association with USAID Jamaica, the Inter-American Development Bank and the Private Sector Organization of Jamaica (PSOJ).