Mobile money provider sets up shop in New Kingston

A mobile money provider based in Dallas, Texas, has set up shop in Jamaica, staking claim in a remittance recipient market worth US$1.9-US$2 billion annually. Mozido Jamaica Limited will operate from office space leased from Lasco Financial Services in New Kingston. The company was incorporated in Jamaica on May 19 as a provider of electrical services, with its sole director identified as American business executive Gregory Corona of Dallas, and major shareholder Mozido LLC. They have however NOT answered any questions as to how and what they’ll be doing here in Jamaica. More to come.

  • Very good question Michele. We’re going to be watching this one very closely.

  • It is interesting that the company is registered as a “provider of electrical services”. Does this mean that its mobile money operations will not be subject to whatever regulatory controls that might govern financial and other associated institutions?