Using newer remittance technologies can boost security for customers who receive funds to carry out purchases during this busy back-to-school period, says Horace Hines, general manager, JN Money Services, owners of the JN Money brand.
Hines, whose company has been facilitating safe and convenient remittance transactions via multiple platforms, notes that technologies such as a money transfer card and online services are more secure during this heavy shopping period as it reduces the need for remittance recipients to carry excess cash.
“We created the JN Money Card a few years ago because of the security and convenience that it offered,” he explained. “The money card functions like a debit card in that it allows persons overseas to send funds directly to the card and the local user can access the funds from any ATM, or use as a debit card at any point-of-sale terminal,” Mr. Hines noted.
Mr. Hines urged customers to send and receive their transactions digitally where possible.
“There are also online remittance sending methods which allow the funds to be deposited directly to your account and then you can use your debit card. This is an option that should also be explored,” he stated.
Mr. Hines emphasized that as with all the new technology, it was still important to exercise caution.
“Although you may be able to reduce the need to use cash, it is still important to be careful. Therefore, always protect your PIN and always use an ATM in an area where it is safe. Also, take note of your surroundings when going in and leaving. And above all, take care during this period,” he stated.
He said the back-to-school period was second only to Christmas in terms of funds remitted to the island. “The back-to-school period between late June and early September is the second busiest period for remittance companies. Last year, during this period, Jamaicans sent back almost US$170 million for the month of August alone. This is more than most months except December,” said Hines. “Because of this, it is important that they take precautions when they’re conducting transactions for back-to-school”.