Case 01
Task:
Measuring financial access and usage of digital payment products, inclusive of electronic retail payment services, amongst the adult population in Jamaica in 2023.
Action:
A household-based island-wide cross-sectional survey among 1,003 Jamaican adults. A survey with 420 small and micro merchants.
Result
The study revealed that financial inclusion was at 77.2%, this means only 22.8% of adults did not have an account at a formal financial institution and so in effect were “unbanked”. Key Barriers to Financial Inclusion: Requirements to open a bank account and limitations of digital payment options at merchants where a large segment of the population shops regularly.