Digicel Group has acquired a majority interest in Paymaster, the premier payments company in Jamaica, for an undisclosed sum, it was announced today.
Established in Jamaica in 1997 by Ambassador Audrey Marks, the former Ambassador for Jamaica to the US, Paymaster developed and launched a proprietary Bill Payment Information System. Today, the company has over 170 locations in Jamaica and agent relationships with over 40,000 locations in the US and Canada where bill payment collections are received on behalf of over 120 client companies in Jamaica and the US. This positive growth stems from the company’s concept of capitalising on leading edge technology, low cost service centres and always putting the customers first.
Digicel Group CEO, Colm Delves, said; “Paymaster is a great brand and a great product and we are delighted to welcome it to the Digicel family as we expand our range of products and services consistent with the convergence of communications, e-Commerce and financial services. Ambassador Audrey Marks has done a tremendous job in establishing and then growing Paymaster into the highly successful business it is today and we are looking forward to working with her and her team to take it to the next level.”
Expressing her delight at the deal, Ambassador Audrey Marks, who will be staying in her executive positions as both a shareholder and Executive Chairman of Paymaster commented; “This move gives Paymaster the ability to capitalise on some big opportunities particularly in the areas of online and mobile-based payments. Given our already positive working relationship, we quickly established that Digicel Group is the right strategic partner for Paymaster and I am very excited about the future.”