From left: Carl Gordon, director of government and strategic growth, Mastercard English Caribbean; Dalton Fowles, country manager for Jamaica, Mastercard; mayor of Montego Bay Richard Vernon; and Naudia Crosskill, chief executive officer, St James Municipal Corporation.
February 19, 2025
Mastercard partners with MoBay to boost digital transformation
MASTERCARD Inc has partnered with St James Municipal Corporation to drive digital growth in Montego Bay, Jamaica’s tourism hub, the companies said on Tuesday.
The partnership aims to promote digital transformation among small businesses and the tourism sector in Montego Bay, positioning the city as a model for digital innovation in the Caribbean.
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The agreement, formalised through a memorandum of understanding (MOU), focuses on two key areas: advancing digitalisation among small and medium-size enterprises (SMEs), and enhancing the tourism economy through greater adoption of digital payments.
“MSMEs constitute the spinal structure of our local economy, therefore to build a more robust economic backbone to navigate the global space we have to empower them through the digitisation process,” said Montego Bay Mayor Richard Vernon. “What we are doing with Mastercard in Montego Bay will set the pace and standard for MSME development and enable them to leverage opportunities in the ever-expanding tourism industry.”
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Under the SME digitalisation pillar, Mastercard will collaborate with local stakeholders to provide businesses with access to electronic payment systems, contactless-enabled devices, and financial literacy training. These measures aim to help SMEs integrate into the digital economy and grow their operations.
The tourism-focused initiatives will promote cashless transactions across key services such as hotels, transportation, and attractions. Mastercard plans to introduce multilingual payment devices capable of processing transactions in visitors’ home currencies as part of a pilot programme launching in Q2 2025. The programme will initially equip 150 registered tourism vendors with these devices.
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Dalton Fowles, Mastercard’s country manager for Jamaica, described the partnership as a “significant step towards building a more inclusive and prosperous digital economy”. He added: “By leveraging Mastercard’s technology, resources, and expertise, we aim to empower SMEs, enhance the tourism sector, and drive economic growth for the benefit of all residents and visitors.”
The initiative also includes a workforce development programme aimed at training hospitality workers in digital customer service protocols and cybersecurity best practices. Additionally, a shared data platform will provide city planners with real time insights into economic activity, enabling more targeted infrastructure investments and business support programmes.
Montego Bay is one of Jamaica’s most prominent tourist destinations, attracting over 2.3 million cruise passengers and 1.1 million overnight visitors annually. The city is poised to become a hub for contactless payments, allowing tourists to seamlessly transition from airport transfers to local purchases using mobile wallets or contactless cards.
As Jamaica’s digital payment volume has grown by 217 per cent between 2020 and 2024, this partnership is seen as a critical step in accelerating financial inclusion and economic recovery post-COVID-19. Critics have raised concerns about consumer protections, however Mastercard has addressed these by implementing mandatory encryption standards and establishing a 24/7 fraud support hotline.
Implementation teams are set to begin site surveys next week as Montego Bay positions itself as potentially the Caribbean’s first fully digital municipality.
