Massycard (Barbados) Limited (MCBL) signed an agreement for the sale of its credit card portfolio to Delta Payments Services (Barbados) Limited (Delta).
Delta, a FinTech company incorporated in Barbados, is wholly owned by the Private Equity firm, Delta Capital Partners Limited. Delta’s objective is to build a leading digital payments services and consumer finance firm with high appeal to all sectors.
This period will allow the two companies time to execute a smooth handover. Essentially, MCBL will continue to service and support the credit card portfolio in its current form during that time and critical elements of the business will not change.
The Massy brand and cards will continue to be used during the transition period and all current marketing promotions, as well as reward programmes will continue as they are at present. More specifically, the Massy Loyalty Card, which shares the same brand mark as the Massy Credit Card, will continue to operate as normal during the transition period.
Additionally, the remittances service and all related operations under the Western Union banner will continue to be provided by MCBL.