Kingston, Jamaica – Xoom, PayPal’s international money transfer service, has announced the launch of its fast, secure, and easy bill payment service for Jamaicans, in collaboration with Paymaster (Jamaica) Ltd., Jamaica’s leading bill payment platform provider, facilitated through a collaboration with Paykii, a leading global bill payment platform provider.
According to The Bank of Jamaica, (BOJ), Jamaicans spent a grand total of $227.7 billion in bill payments for utility and other services in 2016.
With this new launch, Jamaicans living in the U.S., U.K., Canada and 37 markets across Europe can now use Xoom to help ease the burden their relatives face when it comes to paying bills back in Jamaica.
Jamaica’s economy is strongly driven by remittance inflow, in which international remittances play a pivotal role, contributing more than 15 percent of the country’s GDP in 2018.
Many of these remittances sent are used to cover costs for everyday needs such as electricity, internet, cable television, mobile and landline phones, water, and more. Now, with this new feature, Xoom and Paymaster are empowering users to directly pay bills for loved ones and giving Jamaicans an easy way to ensure their bills are covered.
“We’re thrilled to work with Paymaster to give Jamaicans living abroad yet another way to provide family and loved ones with financial support,” said Julian King, VP & GM of Xoom. “Through this new collaboration, Xoom users can now send money to cover everything from electricity to insurance bills without having to wait in line or fill out forms, and recipients can have the peace of mind knowing their bills are paid on time, usually in minutes.”
“For over twenty years we at Paymaster have prided ourselves on satisfying our customers’ evolving needs through our nearly 200 locations in Jamaica and our e-commerce platform. 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 speaking about the partnership.
Xoom users can pay bills for family and loved ones in just a few simple steps, by going to Xoom.com or downloading the Xoom mobile app.
A pioneer in digital remittances, Xoom is a fast way to securely send money, pay bills and reload phones for loved ones in over 160 countries globally. These remittances serve as a lifeline for many people around the world and are used to pay for every day needs like utility bills, healthcare, and education costs, as well as emergencies.
The largely cash-based system of sending money across borders can include paperwork, high fees, standing in line and an ever-present uncertainty of whether the money will arrive when it’s needed.
By providing fast payment options for customers to seamlessly and securely send money across borders by going online or using a mobile device, PayPal and Xoom are helping to expand and improve the financial health of millions of people worldwide.
[2] According to the Migration and Remittances brief commissioned by World Bank Group and KNOMAD in April 2019.
