Audrey Marks regains full control of Paymaster parent company after Digicel exit
Key Points(5)
- Paymaster founder Audrey Marks has reacquired Digicel’s 80 per cent stake in APM Holdings Limited, restoring full control of the payment services company’s parent to its original owner.
- Financial terms of the transaction were not disclosed.
- Marks, who founded Paymaster in 1997, completed the deal following discussions that began in 2024, prior to her appointment as minister of efficiency, innovation and digital transformation and member of parliament for Manchester North Eastern.
- Paymaster operates a network of bill-payment and financial transaction services across Jamaica, serving individuals, businesses, and government entities.
- “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 in a statement.
Paymaster founder Audrey Marks has reacquired Digicel’s 80 per cent stake in APM Holdings Limited, restoring full control of the payment services company’s parent to its original owner.
Financial terms of the transaction were not disclosed.
Marks, who founded Paymaster in 1997, completed the deal following discussions that began in 2024, prior to her appointment as minister of efficiency, innovation and digital transformation and member of parliament for Manchester North Eastern.
Paymaster operates a network of bill-payment and financial transaction services across Jamaica, serving individuals, businesses, and government entities.
“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 in a statement.
The company said it will bring in strategic management support due to Marks’ public responsibilities. That arrangement is expected to strengthen governance, provide operational oversight, and guide planned modernization efforts.
Paymaster said day-to-day operations will continue without interruption, adding that customers, billers, agents, and partners should not experience any changes in service.
The company also thanked Digicel for its previous partnership. However, it did not disclose details on future investment plans, leadership structure, or a timeline for its proposed transformation.
Digicel previously held the majority stake in APM Holdings before the transaction.
