It doesn’t make headlines. It doesn’t have hotel suites. It doesn’t need a port. Yet it now moves more money across Jamaica than the country’s largest economic pillars — including tourism, bauxite, and alumina combined.
The Point-of-Sale terminal — more commonly referred to as the card machine at your local grocery, pharmacy, or gas station — has quietly become the country’s single most active financial channel.
According to financial insiders and corroborated by commercial banking sources, POS transaction volumes have surpassed J$1 trillion annually, driven by a surge in card-based payments and rapid merchant adoption across retail, fast food, transportation, and healthcare sectors.
What’s more — the growth isn’t slowing. New estimates suggest POS transaction value now outpaces inflows from both tourism and raw mineral exports, sectors long held as Jamaica’s economic lifeblood.
And yet, unlike the major industries of old, this new giant has no face, no banner, no voice. It exists in small plastic devices — behind counters, beside cashiers — ticking silently in thousands of shops across the island.
Some are beginning to question:
If the economy has shifted under our feet… why hasn’t the narrative?
A Changing Landscape
Tourism remains one of Jamaica’s most recognizable exports — bringing in over US$3.7 billion in 2023, according to official figures. Bauxite and alumina exports contribute significantly to GDP, but face global pricing pressures and environmental concerns.
Meanwhile, POS transactions have surged in both value and frequency, fuelled by digital adoption, convenience, and the expansion of merchant networks accepting cashless payments.
The numbers tell a quiet story. Every purchase — whether J$500 or J$50,000 — passes through a machine. Multiply that by millions, daily. The result? A financial footprint larger than the industries the country was built on.
Not Yet in the Spotlight
Unlike tourism boards or mining conglomerates, there is no central body publicly representing the POS economy. No ministry press conference. No national campaign. Just momentum.
And that’s precisely why some are watching closely.
A force this large — operating silently across thousands of businesses — doesn’t stay invisible for long.
