MyCash Jamaica

What MyCash Jamaica does

MyCash Jamaica is a mobile digital wallet operated by Paymaster (Jamaica) Limited, targeting Jamaican retail consumers with everyday financial utility: bill payments, prepaid mobile top-ups, and person-to-person cash transfers. The platform is delivered through two complementary access layers — native iOS and Android applications for smartphone users, and a USSD short code (*172#) that extends the same wallet functionality to Digicel feature phone customers, addressing the underbanked segment that app-only competitors cannot reach. An integrated Agent Locator supports offline cash-in and cash-out, suggesting the early scaffolding of an agent-based distribution network typical of Caribbean mobile money operations.

Underlying the product is a standard mobile wallet architecture with multi-currency support and stated encryption and fraud protection systems, accessed via consumer-facing apps and a USSD menu system. From a business model standpoint, MyCash generates revenue primarily through transaction fees on bill payment processing and commissions on mobile top-ups — a high-volume, low-margin interchange-style model where unit economics depend on transaction frequency and active user base rather than enterprise contracts. The go-to-market is direct-to-consumer, supported by a multi-platform social media presence (Facebook, Instagram, Twitter, YouTube) driving awareness and user acquisition. No enterprise customers, partnerships, funding rounds, or management disclosures are available in the source data, limiting deeper diligence on revenue concentration, headcount, or capital structure.

Name

MyCash Jamaica

Legal name

Paymaster (Jamaica) Limited

Website

https://mycashjamaica.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

251–500 employees

Short description

MyCash Jamaica is a mobile digital wallet by Paymaster (Jamaica) Limited serving Jamaican consumers with bill payments, mobile top-ups, and P2P transfers via iOS/Android apps and a USSD *172# feature phone channel, earning revenue through transaction fees and top-up commissions.

Ownership category

akta.pro rank

Product category

Mobile Payments / Digital Wallet

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industry

Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC)

Keywords

• Mobile digital wallet
• Bill payment services
• Mobile top-up
• QR code payments
• USSD mobile money

Headquarters

HQ city

Kingston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Bill Payment Transaction Fees: Users pay utility bills (electricity, entertainment) through the MyCash app. The company earns a transaction fee per bill payment processed.
2. Mobile Top-Up Commissions: Users top up their mobile phone credit through the MyCash platform. The company earns a commission from mobile carriers on each top-up transaction.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

MyCash Jamaica is a mobile digital wallet operated by Paymaster (Jamaica) Limited that allows Jamaican consumers to send and receive cash via personalized QR codes, pay utility and entertainment bills, and top up mobile phone credit directly from their smartphone. A parallel USSD service (*172#) extends the wallet to Digicel feature phone users without internet connectivity. The platform is secured with biometric authentication and emphasizes transparent, fee-disclosed transactions.

Product overview

MyCash Jamaica is a digital payments platform operated by Paymaster (Jamaica) Limited, consisting of a mobile digital wallet application and a USSD service for feature phone users. The core MyCash Digital Wallet enables users to send/receive money via personalized QR codes, top up mobile phone credit, and pay bills (electricity, entertainment, and other services) — all accessible through fingerprint or Face ID authentication. The USSD service (*172#) extends basic wallet functionality to Digicel customers without smartphones. The platform emphasizes security through encryption and fraud protection, transparency through visible fees and receipts before transaction confirmation, and accessibility through both app-based and USSD-based channels.

Differentiator

Problem solved

Functional benefit

Products and services

• MyCash Digital Wallet A mobile digital wallet application for iOS and Android that enables individual consumers in Jamaica to manage cash, send and receive money via personalized QR codes, top up mobile phone credit, and pay bills for electricity, entertainment, and other services directly from their smartphone. Access is secured with fingerprint or Face ID biometric authentication, and a pre-transaction receipt shows amounts and fees before confirmation.
• MyCash USSD Service (*172#) A USSD-based mobile service that allows Digicel customers in Jamaica to access MyCash features by dialing *172#, providing an alternative to the smartphone app for basic transactions on feature phones without internet connectivity.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• National Commercial Bank (Jamaica): Largest Jamaican commercial bank with mobile banking and the Quisk wallet — a broad incumbent whose banking app overlaps MyCash's P2P and bill-pay use cases.
• Scotiabank Jamaica: Major Jamaican retail bank with mobile banking app covering P2P transfers, bill payments, and top-ups — direct substitute for the core MyCash wallet flows.
• JMMB Group: Jamaican financial services group with mobile banking and money-services capabilities that compete with MyCash for everyday consumer payments and bill settlement.
• Sagicor Group: Caribbean financial services group with mobile wallet / digital banking offerings overlapping MyCash's consumer payments value proposition in Jamaica and the wider Caribbean.

Direct peers

• Quisk: Jamaican mobile wallet backed by National Commercial Bank enabling P2P payments, bill pay and merchant acceptance — the closest direct domestic competitor to MyCash.
• WiPay Caribbean: Caribbean digital payments platform offering online bill payment, mobile top-up, and merchant acquiring — overlaps directly with MyCash's bill-payment and top-up transaction rails.

Regional players

• Digicel Mobile Money: Digicel's regional mobile money service across multiple Caribbean markets; comparable as the carrier-affiliated mobile wallet that MyCash is distributed through via USSD *172#.

Emerging players

• Chipper Cash: Cross-border mobile payments platform with active Caribbean corridor coverage; competes for the same Jamaican diaspora and remittance-adjacent P2P use cases as MyCash.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/mycashjamaica
• YouTubeyoutube.com/@mycash_dfs
• Facebookfacebook.com/MyCash.dfs
• Instagraminstagram.com/mycash.dfs

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MyCash Jamaica