KINGSTON, Jamaica — In a landmark deal reshaping Jamaica’s fintech landscape, Audrey Marks, founder of leading Jamaican payment services provider Paymaster, has bought back Digicel’s 80 percent controlling stake in APM Holdings Limited, the parent company of Paymaster. The transaction hands full ownership control back to the firm’s original founder nearly three decades after Marks first launched the business.
Specific financial details of the acquisition have not been made public per the terms of the deal.
Company representatives confirmed the transaction concludes negotiations that first kicked off in 2024, preceding Marks’ appointment to her current dual roles as Jamaica’s Minister of Efficiency, Innovation and Digital Transformation, and Member of Parliament for Manchester North Eastern.
Marks first founded Paymaster back in 1997, building the business from its early days to become a cornerstone of Jamaica’s transaction services ecosystem. Today, the company delivers a wide range of services including bill payment processing and general transaction solutions for individual consumers, private businesses and government agencies across the island, operating via a sprawling network of physical locations spanning every major region of Jamaica.
In an official statement following the deal’s closure, Marks noted that the acquisition puts the company in a position to leverage its decades-long market presence as it pursues new expansion opportunities in the fast-evolving, technology-first global payments industry. “This transaction allows the company to build on its strong foundation while positioning for future growth opportunities in an increasingly technology-driven environment,” Marks said.
To accommodate Marks’ ongoing public sector responsibilities, Paymaster announced it will onboard dedicated strategic management support to oversee company operations. This new governance framework is designed to deliver robust operational oversight, strengthen corporate governance standards, and guide the company’s upcoming modernization initiative.
The firm has moved to reassure stakeholders that day-to-day business operations will continue without any disruption throughout the ownership transition. Customers, billing partners, agent networks and other third-party partners can expect no changes to existing service offerings in the coming months.
Paymaster also issued a public note of gratitude to Digicel for its years of collaboration and partnership during its time as majority shareholder. As of the latest announcement, the company has not released further details regarding planned capital investments, updated long-term management structure, or a concrete timeline for the proposed modernization process.