Paymaster and Magna on Tuesday announced a new partnership that now allows customers to use their vouchers to pay utility bills, school fees and all other payments collected at all 175 Paymaster locations islandwide.

According to a news release from Paymaster, the partnership will give both companies’ combined membership of approximately 500,000 customers the opportunity to earn additional points for each payment made at Paymaster.

“Customers will also have a chance to earn double points when making their bill payments at Paymaster by using their Scotia-Magna Mastercard and Magna Card. This double dip promotion is further enhanced for members of Paymaster’s loyalty programme who will now earn additional Paymaster loyalty reward points,” the release stated.

“Paymaster is always looking for new and innovative ways to reward our customers,” the release quotes Ambassador Audrey Marks, Paymaster’s executive chairman, as saying at the launch ceremony held at Paymaster’s head office in Kingston.

“This strategic partnership is another novel way to do this, which will see both Paymaster and Magna taking the loyalty rewards industry to new heights. Customers will benefit by receiving great value in a tangible way, especially in this economic environment where every saving counts,” she added. “Paymaster has always been a caring company, and what better way to give back to our cherished and valued customers than with additional ways to pay their bills?”

Ed Ince, director, Prism Services Holdings Ltd, expressed pleasure with the partnership.

“We are delighted that after many years of exploring opportunities to work together, the two companies have now implemented this partnership that will see customers earning and redeeming their vouchers for bill payment at Paymaster’s 175 locations,” he said.

“We are also happy to include the Scotia and Magna partnership where customers can now use their Scotia-Magna credit card at any Paymaster location and earn ‘double dip’ from both Scotia and Magna, in addition to the benefits reaped from paying at Paymaster.”

The Paymaster Loyalty rewards programme was launched in 2014, giving customers the opportunity to qualify for free insurance (critical illness and accidental death and disability underwritten by Sagicor) by making three payments for three consecutive months.

In September 2015, the company enhanced its rewards programme in a promotional partnership with Flow, whereby customers paying any two Flow bills automatically qualify for free insurance. Concurrently, in 2015, Paymaster expanded the rewards by adding a ‘Show and Save’ benefit for its members to receive significant discounts ranging from five to 25 per cent at more than 300 merchant locations islandwide by showing their Paymaster Card.