You might think Jamaica is going cashless, but the data says the opposite. Even among young people, cash is still king!

According to a new nationwide survey on payment preferences commissioned by BRANCCH Consulting and Outsourcing, cash remains the most accessible and widely used payment method across the country. 

In fact, about 88% of Jamaicans say they have ready access to cash, making it the most common way people pay for everyday things.

And even among younger Jamaicans, cash is still a major part of how people transact. 

The survey shows that access to cash is high across all age groups, including the 18 to 29 demographic,  where more than eight in ten respondents reported having ready access to it. 

That suggests that while younger consumers may be more comfortable with digital tools, cash still plays a strong role in their day-to-day spending habits.

Despite the growth of digital options, most transactions are still happening face to face.

The survey found that about 90% of respondents made a purchase at a physical location in the week before they were surveyed,  whether that’s at a supermarket, a shop, or a gas station. That tells us that in-person commerce is still driving the local economy.

Now, if cash is still dominating, then how are people actually getting that cash? According to the study, ABMs play a major role. 

In fact, about 26% said ABM withdrawals are their primary source of cash. The study also shows that these machines aren’t just used occasionally. For many Jamaicans, ABM withdrawals help fund daily spending, not just emergency needs.

And when people choose which ABM to use, convenience is the biggest factor.

More than half of respondents said they prefer machines located close to their home or workplace, and a similar share said they prefer ABMs linked to their own bank. Those factors ranked far higher than things like transaction fees or even security concerns.

The survey also found that while withdrawals are common, deposits are less frequent. About 68% of respondents reported depositing cash into an ABM, showing that while the technology is being used for multiple services, withdrawals remain the dominant activity.

But while digital payments are growing, the study also highlights a major challenge.

Many people still don’t fully trust card payment systems. Only about a third of users said point-of-sale machines are very reliable.  And nearly one in five reported having at least one failed card transaction within a two-week period.

So what does all of this mean?

While digital payments are slowly gaining ground, cash still plays a huge role in Jamaica’s economy.  Reliable infrastructure, including ABMs and payment systems, will be key if digital options are going to grow.

And that’s the bottom line.