Xoom, Paymaster partner on bill payments
Published:Friday | January 3, 2020 | 12:28 AM
Paymaster Jamaica has joined the list of local remittance partners for Xoom through a collaboration with global bill-payment platform provider Paykii.
Xoom, which is owned by American company PayPal, has operated in Jamaica for at least 15 years through its partnership with JMMB Money Transfer Limited and Victoria Mutual Building Society. Combined, the remittance company claims a larger network than Western Union’s 140 agents.
The deal with Paymaster will add another 200 locations for users of the service.
“We are excited to be partnering with Xoom, PayPal’s international money-transfer service and a leader in international digital money-transfer technology, to offer a one-stop international bill-payment service to Jamaica that will help provide persons living outside of Jamaica with a fast, convenient, and secure way to pay bills in Jamaica,” General Manager of Paymaster Nicolene Worthy-Donaldson stated in a press release.
Paymaster and Xoom’s partnership will allow Jamaicans living in the United States, United Kingdom, Canada and 37 markets across Europe to assist relatives in honouring local bill payments.
A pioneer in digital remittances, Xoom claims a fast and secure way to send money, pay bills and top up phone credit for family and friends in over 160 countries globally. Global studies indicated that these remittances serve as a lifeline for many people around the world and are used to pay for everyday needs such as utility bills, healthcare, and education costs, as well as emergencies.
For 2018, remittance inflows to Jamaica contributed more than 15 per cent of the country’s GDP.
The largely cash-based system of sending money across borders can include paperwork, high fees, standing in line and uncertainty as to whether the money will arrive when it’s needed. PayPal and Xoom now boast that it is solving those issues by providing fast payment options for customers to seamlessly and securely send money across borders by going online or using a mobile device.
Paymaster (Jamaica) Limited is Jamaica’s first one-stop, multi-transaction payment agency providing customers with a convenient next-day account updating service. With a client portfolio of over 100 biller clients that includes major companies such as the Jamaica Public Service, National Water Commission, Digicel and FLOW, Paymaster offers a variety of services, including remittances, mobile top-up, loan repayments, payment of insurance premiums, property taxes, electronic security monitoring payments, and school tuition.