OUTGOING Bank of Jamaica (BOJ) Governor Richard Byles says wider adoption of Jam-Dex remains one of the unfinished ambitions he would have liked to see realised before leaving office in August when his contract expires.

During his final press briefing on Tuesday, Byles said slow adoption of the digital currency remained one of the biggest frustrations of his tenure. But in what amounted to one of the few concrete timelines announced for the digital currency’s expansion, the BOJ revealed that Jamaica National Bank is expected to become the first deposit-taking institution (DTI) to retrofit its point-of-sale (POS) machines to facilitate jam-Dex transactions by July this year.

“One DTI has come to the gate and [is] working with the BOJ, and by July of this year the BOJ would have one DTI who would have retrofitted their point-of-sale device for Jam-Dex,” revealed Mario Griffiths, division chief of payment system and money services oversight.