1.  WHAT IS MYCASH?

MyCash is a mobile wallet (with a companion prepaid Mastercard/ this will NOT be  available at launch but will be added   in phase 2) issued by Paymaster that allows you to send and receive money through your mobile phone, pay bills or top   up in seconds.

There are 2 level of accounts 

  • MyCash Basic (level 1)
    1. All that’s needed to open this wallet is Full Name, DOB and a TRN
  • MyCash Plus (level 2)
    1. Easy upgrade by proving additional identification information


2    WHAT IS MYCASH PLUS?

MyCash Plus is a larger MyCash wallet which allows you to have higher wallet/transaction limits. Coming Soon - The MyCash Plus Wallet will allow you to receive International Money Transfers (IMT) directly to your mobile wallet. (To upgrade - See item 33 in General Questions)


3.   WHAT ARE THE BENEFITS OF USING MYCASH?

The significant benefits of MyCash mobile wallet are:

  • Enables mobile devices users in a secure way to make financial transactions without the need of physical cash.
  • You can top up funds to the MyCash wallet as many times as you like (subject to daily limits);
  • You can only access the money that you have loaded which helps you control spending;
  • If your mobile device is lost or stolen, you can immediately freeze the MyCash mobile wallet by contacting the MyCash contact centre via email or telephone;
  • You can cancel the MyCash mobile wallet whenever you wish;
  • You can see detailed information about merchants you purchase goods from. (Not yet Available) 
  • You can send and receive value transfers on your MyCash mobile wallet in the same way you do a bank account even though the MyCash wallet is not a deposit/savings account.
  • Access to a reloadable prepaid MasterCard with access to ATMs, merchants and online (e- commerce) – wherever MasterCard is accepted (Not available at launch, only when Mastercard Companion Card is added) ;
  • Secure withdrawal at any ATM (Not available at launch, only when Mastercard Companion Card is added);


4.  WHAT ARE THE CURRENT FEATURES OF THE MYCASH WALLET?

Once your MyCash Wallet has been activated, you will be able to access the following services:

  • Send and Receive money in real time with Peer to Peer (P2P) transactions
  • Cash-In and Cash-Out through any of our authorized Paymaster locations island-wide
  • Cash-In from your existing Mastercard/VISA card (bank account) to the MyCash Wallet (Card to Wallet)
  • Change your PIN
  • View your transactions
  • Top-Up Digicel mobile phones
  • Pay bills for any of the over 100+ Billers in our bill pay network
  • Check balance inquires
  • Get Signup Bonus ($250 JMD in your wallet) and be part of the Referral Programme ($100 JMD for every friend you refer to MyCash that activates an account. Money goes to your wallet)

 

5.  WHAT ARE THE UPCOMING FEATURES OF THE MYCASH WALLET?

  • Receive international remittances (MyCash Plus only) (Not yet Available) 
  • Make payments via QR codes (Not yet Available) 
  • Pay for goods and services at any participating MyCash merchant (Not yet Available)
  • Enable transfers from MyCash Wallets to existing bank accounts (Not yet Available)
  • Perform transactions using Jamaica’s Central Bank Digital Currency (CBDC) or JAM-DEX (Not yet Available)
  • Cash-Out through Cirrus ATMs (MyCash MasterCard Cardholders only) (Not yet Available)