Transcel was incorporated as a Jamaican limited liability company headquartered in Kingston, Jamaica. Transcel was founded to securely and cost-effectively deliver and support a bundle of on-demand financial services based on intelligent mobile systems technology, leveraging world-class software development and a highly scalable business model. The Company's services have been designed to:

  • Meet the regulatory, market and security requirements in the U.S./Caribbean transnational corridor;

  • Bypass unnecessary costs associated with traditional financial transactions; and

  • Provide the services interoperability infrastructure required to support the complex partnerships required to deliver mobile money services.

The Company is positioned as a services platform and a services bridge to deliver and interconnect emerging new services. The Company's venture strategy aims to capture a leading role in mobile microfinance and dominant position in the $8 billion marketplace for cross-border person-to-person transfers in the Caribbean region.

In the News Events

In 2012, Development Bank of Jamaica (DBJ) selected Transcel to design and implement a pilot project (Transcel M3) as part of its Government of Jamaica policy initiative focused on microfinance.

Mobile Money Launch

by Jamaica Information Services (JIS)

The Development Bank of Jamaica (DBJ) will, over the next 12 months, embark on the pilot phase of their latest initiative, the non-commercial Mobile Money for Microfinance Project, dubbed M3. The venture, which was launched at the Jamaica Pegasus Hotel, New Kingston, on February 11, seeks to increase access to and security of financial service transactions and deliveries, particularly to microfinance sector stakeholders, at significantly reduced costs using mobile phones.

Developed over the last two years and approved by the Bank of Jamaica (BoJ), M3 will, among other things, enable clients to remotely access a bank account, primarily to check account balances and make payments; negotiate transfers from one person to another and carry out activities, such as person-to-business transactions and payments for goods and services.

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Alaric Technology Underpins Jamaican Mobile Money Launch

by Alaric | February 26, 2013

Alaric (www.alaric.com), a global supplier of fraud prevention and payments solutions, announced today that it is working with Transcel (www.transcel.com/) on a Development Bank of Jamaica (www.dbankjm.com/) project to create the infrastructure to deliver mobile financial services to the financially under-served segment of the population in Jamaica.

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Alaric and Transcel target Jamaica's unbanked

by Electronic Payments International | February 26, 2013

Alaric, a fraud prevention and payments company, has partnered with financial services provider Transcel to deliver mobile financial services to the unbanked in Jamaica.The Development Bank of Jamaica (DBJ) project, dubbed M3 (mobile Money for Microfinance), will leverage approved microfinance institutions (MFIs) to allow consumers to carry out low-cost person-to-person mobile money transfers and payments.

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DBJ Pilots Mobile Solution To Microfinancing

by Jamaica Gleaner | July 29, 2012

In a bid to reduce loan costs for small-scale commercial borrowers, the Development Bank of Jamaica (DBJ) is piloting a mobile money product that was given the green light by the Bank of Jamaica mid-year.

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Transcel's strategy utilizes a partnership-based approach that leverages the multiple core competences and business relationships of its founding team. Important to the growth plans are strategic distribution partnerships including mobile operators, wireless airtime resellers, micro-financial services operators and large POS merchant networks.

Development Bank of Jamaica - A key relationship is the public-private partnership with the Development Bank of Jamaica (DBJ), a wholly Government of Jamaica owned corporation mandated to foster economic growth and development of strategic sectors of the Jamaican economy, for the roll-out of services to the entire Jamaican microfinance industry. This strategic relationship has provided Transcel with unique insight into the regulatory environment as well as the context for the development and piloting of highly tuned mobile micro-lending, government transfer (G-to-P), person-to-person transfer (P-to-P), retail payments and international remittance services.

National Commercial Bank - In its mobile microfinance pilot project with the DBJ, Transcel is currently working with the National Commercial Bank, Jamaica's largest financial services provider, which has the largest merchant POS network in Jamaica, and a group of 9 microfinance institutions with a customer base of 150,000. The company is also currently in partnership discussions with banks, mobile operators and wireless air-time resellers with regional operations.

Alaric Systems - Alaric, a global supplier of fraud prevention and payment solutions, will be working with Transcel on the DBJ pilot project to create the infrastructure to deliver mobile financial services. The partnership will see Alaric's highly configurable transaction routing and authorization product, Authentic and their fraud detection and prevention product, Fractals, being used for account opening and transaction validation checks, managing account balances, providing authorisation of mobile transactions and synchronisation with the NCB card services switch, and delivering full fraud detection and prevention functions. Alaric's Authentic product provides one of the few EFT technologies fully built based on an SOA approach. American Express is their premier client.