The Bank of Jamaica (BOJ) has lifted suspension of the remittance operating licence issued to Paymaster (Jamaica) for its operation as a Remittance Primary Agent at 19 locations.
In a release on its website, the central bank says this became effective September 6.
On July 10, the BOJ announced that Paymaster was no longer authorised to offer remittance services as a Primary Agent.
It was not clear for which international remittance entity the services were being suspended, however over the years, Paymaster offered overseas money transfer services for Ria, MoneyGram, Boss Money and Xoom by Paypal.
Paymaster was however able to continue as a sub-agent of six Remittance Primary Agents.
The central bank says the company is now authorized to resume offering remittance services at all licensed locations.
When the suspension was first announced, Paymaster said it was linked to a breach of its record keeping requirements, and that this only applied to a small part of its business, specifically primary agent services supplied to a single overseas provider.
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