Payment technology firm Mastercard is set to open new offices in Puerto Rico and Jamaica in a bid to strengthen its presence in the Caribbean region.

The plan also includes expanding its office in the Dominican Republic that will be led by Gabriel Pascual.

The move is aimed at increasing service efficiency while offering service to clients and business partners in the region.

Additionally, the Caribbean will become a new independent division of Mastercard, which until now was a part of the Latin America Central Division, reported

It will also provide the local team with additional capabilities in various business segments.

The new offices at Puerto Rico and Jamaica to expected to be established by the first half of this year.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mastercard Caribbean division president Marcelo Tangioni was quoted by the media sources as saying: “This is the next step within the division’s five-year strategy, which was launched last September with the inauguration of our own offices in the Dominican Republic.

“In upcoming years we expect to continue expanding consistently our Caribbean presence.”

Earlier this month, Mastercard reported its fourth quarter results . The company registered a net income of $899m in the period, a jump of nearly 300% compared to $277m a year ago.

The company’s net revenue also increased to $3.8bn in the same period from $3.31bn in the fourth quarter of 2017.