Paymaster returns to founder Audrey Marks

Following two years of negotiations, Ambassador Audrey Marks has reacquired Paymaster Jamaica Limited from Digicel Group, a telecoms operator. She is now the sole owner of the entity, Jamaica's first multi-payment agency, offering a one-stop-shop for bill payments, remittances, and service subscriptions.

The transaction concludes discussions that began in 2024,  prior to Ambassador Marks assuming her current public responsibilities as Minister of Efficiency, Innovation and Digital Transformation and Member of Parliament for Manchester North Eastern. 

She has acquired the 80 per cent ownership stake that Digicel held in the parent company of Paymaster Jamaica Limited, APM.

Ambassador Marks founded Paymaster in 1997, and the company has grown to become one of Jamaica’s most recognised payment services providers, serving individuals, businesses, government entities, and communities across the island through its extensive network and innovative payment solutions.

Ambassador Marks said Paymaster’s day-to-day operations will continue uninterrupted.

Speaking on the transaction, Ambassador Marks said the reacquisition represents both a return to the company’s entrepreneurial roots and the beginning of a new chapter focused on growth, modernisation, and enhanced customer service.

“Paymaster has always been about innovation, accessibility, and delivering value to our customers. This transaction allows the Company to build on its strong foundation while positioning for future growth opportunities in an increasingly technology-driven environment,” said Ambassador Marks.

Ambassador Marks stressed that she will not be involved in the day-to-day operation of Paymaster given her current role as a Cabinet Minister and Member of Parliament, which she said leaves her very little personal time as well as potential for conflict of interest.

“I will be entering into strategic management arrangements for the day-to-day operation of the company,” she told The Gleaner.

Ambassador Marks said the decision to reacquire Paymaster was taken following the ownership change of Digicel and the new management’s focus on telecommunications rather than on other aspects of the company.

“With the change in ownership, I therefore saw an opportunity to come back and transition Paymaster to a fin tech company,” she said.

She said that technology has advanced to the level it has and this could lead the company to be more inclusive for Jamaicans not only in Jamaica but also in the diaspora.

To this end, she said that Paymaster will develop a global market by expanding to the diaspora both online as well as with physical locations.

“The goal is to make it easier for Jamaicans to access financial and other services that are affordable and acceptable,” said Ambassador Marks.

“Paymaster extends its appreciation to Digicel for its partnership and support over the years and looks forward to working closely with all stakeholders as it embarks on this exciting new phase of growth and transformation,” Marks added. 

-Lester Hinds