“They’re bleeding us dry.” That’s the growing sentiment among Jamaican merchants as traditional banks ramp up processing fees, cutting deeper into already razor-thin margins.
Amid the backlash, all eyes are now on the upcoming launch of the Renozan Terminal—a sleek, merchant-first payment device developed by Renozan Limited, poised to challenge the stronghold of Jamaica’s billion-dollar payment processing industry.
Set to debut within weeks, the terminal is being positioned not merely as another payment option, but as a direct response to financial exploitation at the hands of local banks. For many merchants, it’s not just welcome—it’s war.
“They’re raping us with fees,” one downtown pharmacy owner said bluntly. “Every swipe costs more, every month brings a new deduction. We’re tired of it.”
At the heart of the controversy lies the opaque fee structures imposed by traditional financial institutions. While banks advertise digitization and convenience, business owners report mounting charges, hidden levies, and unreliable settlement times—all of which eat away at profit.
The Renozan Terminal enters the market as a radical alternative: transparent, fixed-rate processing with no surprise deductions—a model designed specifically for merchants, not middlemen.
For retailers and SMEs across the island, this means more than convenience—it’s a reclamation of control in an industry long skewed against them.
Industry insiders estimate Jamaica’s payment processing sector to exceed US $1.2 billion annually, dominated by a handful of legacy institutions. Renozan’s entry not only threatens that grip—it’s poised to redefine the balance of power between banks and merchants.
“Renozan is the light at the end of a long, expensive tunnel,” says a supermarket chain executive who has already pre-registered for the terminal. “This isn’t a product. It’s a movement.”
As the countdown to launch begins, merchant anticipation is reaching a boiling point. The Renozan Terminal, still unreleased, has already ignited conversations in boardrooms, bars, and back offices alike.
When unleashed, it won’t just process payments—it will process a reckoning.
