Mastercard Day in Jamaica Spotlights Digital Innovation and Partnership for Economic Growth

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With digital transformation taking center stage across the Caribbean, Mastercard made a powerful return to Jamaica for “Mastercard Day,” a milestone event focused on accelerating innovation, partnership, and inclusive growth through digital payments.

Held in collaboration with key government officials, financial institutions, and digital innovators, the event underscored Mastercard’s commitment to shaping a digitally empowered economy, particularly for SMEs, the heartbeat of Caribbean commerce.

“We are not only investing in technology, but we’re also investing in people, in small businesses, and in the future of Jamaica’s digital economy,” said Dalton Fowles, Country Manager for Mastercard in Jamaica, Trinidad & Tobago, Barbados, and the Eastern Caribbean. “Our goal is to ensure that more people and businesses can participate safely and confidently in the digitized financial system.”

The $448 Billion Opportunity

A newly released Mastercard-commissioned whitepaper revealed a staggering $448.4 billion opportunity in digital payments within the consumer-packaged goods (CPG) sector across Latin America and the Caribbean. The findings reflect what many Caribbean digital economy advocates believe: digitization isn’t just a buzzword—it’s a business imperative.

Reliance on cash or outdated payment systems can create hidden costs, inefficiencies, and lost opportunities for small businesses in particular. The rise of mobile wallets and fintech platforms across Jamaica and the region is already beginning to reshape that landscape.

Key Highlights from Mastercard Day Jamaica

The event featured a powerhouse lineup of speakers and discussions centered on the theme of building a safe, inclusive, and future-ready digital economy:

• 🏛️ Empowering Jamaica’s Digital Economy
  The Honourable Aubyn Hill, Minister of Industry, Investment & Commerce, emphasized the importance of public-private collaboration in fostering innovation, inclusion, and foreign investment.
• 💳 The Evolution of Payment Acceptance
  Juan Santiago Martinez, Principal of Acquiring and Acceptance (LAC), shared insights on how Jamaican businesses can future-proof themselves by embracing smarter, more secure payment technologies.
• 💼 Innovative B2B Payment Solutions
  Dwain Neckles, Regional Head, Corporate Solutions Canada, spotlighted commercial payments and automation as levers for enterprise productivity and growth.
• 🌆 Montego Bay’s Smart City Vision
  Councillor Richard Vernon, Mayor of Montego Bay, in a fireside chat with Mayra Vivacqua, Region Head for Mastercard Caribbean, shared the city’s ambitions to evolve into a fully connected smart city driven by data and technology.
• 🌍 Unlocking Emerging Market Growth
  Rafael Noriega, CEO of fintech firm Yalutec, highlighted digital payments as a growth accelerator for emerging markets, especially where financial inclusion is limited.
• 🔐 Cybersecurity & Fraud Prevention
  Ramiro Dominguez, Director of Security Solutions Management (North LAC), discussed Mastercard’s advanced tools to protect the ecosystem while expanding digital access.

Building a Caribbean-First Digital Economy

Mastercard Day in Jamaica wasn’t just an event, it was a signal. A signal that Jamaica and the wider Caribbean are not just users of global fintech trends—they are emerging as innovators, collaborators, and strategic partners.

By fostering deep conversations and concrete collaborations, Mastercard is supporting a future where Caribbean businesses, governments, and individuals can lead in building a safe, inclusive, and thriving digital economy.