Payments

Prism Payments incorporates a number of consumer-based businesses that aim to improve the personal online transaction capabilities of Caribbean people living at home and abroad. Prism Payments are committed to creating an inclusive cashless society where anyone with a smart phone can easily achieve their daily banking needs online, from receiving wages to paying bills, without the need to queue up at banks or endanger themselves carrying around large sums of cash.

 

MyCash offers Jamaicans at home and in the USA a new way to manage their money by mobile. Safer than cash and credit cards, customers do all their daily banking directly from their smartphones, without needing to visit bank branches, complete paperwork or undertake background credit checks. MyCash is accessed entirely through a website and mobile app where customers can receive wages, pay bills and transfer money. Lodgements can also be made at over 200 Paymaster agents & Sagicor bank branches. Customers also receive an internationally accepted ATM card that works as a free prepaid Mastercard, so now you can shop online or offline anywhere in the world.

 

Paymaster processes millions of transactions for over one hundred clients, and hundreds of thousands of consumers every year. In Jamaica, Paymaster offers over 200 locations for consumers to pay their bills and over 2000 locations in the UK. The website and app allows the Jamaican diaspora in the US, UK, Canada and beyond to pay bills and top up mobiles of loved ones back home. Recent investment in the core IT systems and website has enhanced customer service and helped clients improve their collection rates.

 

 

Ecommerce

Prism Ecommerce aims to develop significant ecommerce business in the Caribbean and Central America using an open marketplace platform model. Leveraging Digicel’s strong brand name, retail presence and payment methods, Prism aims to enable consumers to access better value shopping online.

 

RedBarrel is the Caribbean's Online Marketplace. Currently serving customers in Bahamas, Barbados and Trinidad & Tobago, RedBarrel offers the Caribbean's largest product inventory with great daily deals and up to 21% lower shipping costs.

 

 

Loyalty

Prism Loyalty includes both consumer-based reward scheme, Magna Rewards and business-to-business operation, Spectrum Loyalty. These schemes offer customers immediate and accumulative loyalty rewards, with ever increasing smartphone accessibility, while offering businesses a digital platform to engage in direct, targeted communication with their customers.

 

Magna Rewards is the largest coalition loyalty program in Jamaica and Trinidad & Tobago since its launch in 2002. Members can swipe to earn and instantly redeem their points at 50 of Magna Rewards partners in 100 partner locations in T&T and 273 partner locations in Jamaica . With new and improved digital functionality and mobile accessibility, Magna Rewards aims to bring the Magna Rewards experience to even more customers. Last year they awarded TT$7 Million Points to T&T customers and JA$148 Million Points to Jamaican customers.

 

Spectrum Loyalty Solutions is a fully integrated loyalty management firm. Using expert knowledge across all areas of loyalty engineering, their innovative, customised solutions allow organisations to strengthen customer loyalty, increase retention and build stakeholder allegiance. Spectrum loyalty programs are built upon their own proprietary web-enhanced loyalty application which supports outsourced and in-house services with connections to social networks, mobile, call centres and merchant touch points. All technologies are fully adaptable and can support programs of any size, in any sector, market or language.

 

 

Processing

Prism Processing assists businesses with outsourced data storage solutions, online and offline billing systems, plus management and financial services for businesses.

 

Stronghold Data Solutions commercial record centre provides records management for companies in the Caribbean. They actively manage and track 700,000 uniquely identifiable items with upwards of 600 work orders processed monthly. Essentially clients outsource the custodianship of their business records to Stronghold’s safe, secure climate-controlled environment. Stronghold’s solutions empower clients of all sizes to manage rising storage, labour and administrative expenses while also applying a robust litigation-readiness focus to records management. They also boast a strong YoY revenue growth of 14%.

 

Streamline Solutions assists businesses to save costs and achieve greater efficiency with billing, statements and customer communications in 24 countries. They ensure clients’ communications reach the required target markets with over 300 tons of mail air freighted annually, byworking closely with postal corporations across the Caribbean to improve delivery time and postal rates. Full data security and confidentiality is ensured.

 

Prism Financial Processing Services Ltd (PFPS) has been providing outsourced management services to clients in the financial industry for the past 20 years. PFPS ensure the efficient and reliable operations of the Barbados National Debit Switch and the daily operations of the inter-bank clearing and settlement services at the Automated Clearing Houses in Barbados and the Cayman Islands, which exchange millions of financial payment transactions each year. Teams of highly trained, experienced ICT and project management consultants work closely with clients across the region to ensure the highest industry standards and best practices are embedded in projects and solutions being deployed within the payments industry. Prism's services in payment systems are vital to the efficiency of the financial sector of Barbados.

On the data security side of the business, PFPS are proud to provide co-location services at our Barbados based, Tier II conformant data centre facility, in operation since January 2014.  The facility provides: fully redundant electrical power and cooling systems, carrier agnostic communication links (fibre, copper and wireless), monitored access control, fire detection and suppressant systems, in both private suites and shared rack space configurations.  In addition, Business Continuity facilities are provided for data centre clients.