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BOJ Suspends Paymaster's Authorisation To Operate Remittance Business | RJR News - Jamaican News Online
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BOJ suspends Paymaster's authorisation to operate remittance business

Bank of Jamaica has advised that remittance operating licenses issued to Paymaster Jamaica Limited as a remittance primary agent have been suspended until further advised, effective July 5, 2024. 

Consequent on the suspension, Paymaster is no longer authorised to offer remittance services as a primary agent, and therefore, no remittance services will be offered at the nineteen locations until further notice. 

Paymaster continues to operate as a sub-agent of six Remittance Primary Agents and therefore will offer remittance services through the sub-agent arrangements at forty-seven locations.

A current listing of all licensed remittance locations is available on Bank of Jamaica's website.

The public is also being advised that Paymanster's authorization to test its MyCash mobile wallet in the Bank of Jamaica Fintech Regulatory Sandbox remains in effect.



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