Digicel Group has acquired a majority interest in Paymaster, Jamaica’s first bill payment company pioneered by Ambassador Audrey Marks.
The cost of the acquisition was not disclosed.
Marks will be staying with the company as Executive Chairman of Paymaster and will retain a stake in the company.
“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,” said Marks in a joint statement with Digicel regarding the takeover.
The businesswoman founded the company in 1997, and now Paymaster has 170 shops in Jamaica agent relationships with and more than 40,000 locations in the United States and Canada.
“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,” said Digicel Group CEO, Colm Delves.