Paymaster Jamaica Limited can now resume its remittance services after the Bank of Jamaica (BOJ) lifted a two-month suspension. The suspension was lifted on Monday, September 6, 2024.
While the BOJ did not disclose the specific reasons for the suspension, it confirmed that Paymaster had successfully addressed the issues that led to the action. Paymaster is now authorised to offer its full range of remittance services at all licensed locations across Jamaica. Customers can once again send and receive money through Paymaster with confidence.
“Paymaster would like to thank the BOJ for its support and partnership over the past few weeks and remains committed to maintaining the highest standards of compliance,” the company told Loop News.
This development brings relief to many Jamaicans, both locally and abroad, as remittances, particularly from the diaspora, are vital to the country’s economy. The suspension had temporarily halted Paymaster’s ability to provide remittance services as a Primary Agent at its 19 locations.
