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Lasco opens cambio in Port Antonio

Published:Thursday | August 13, 2015 | 12:19 PMTameka Gordon

Lasco Financial Services has extended its footprint to eastern Jamaica, opening its fifth cambio outfit in Port Antonio.

The company entered the Portland capital for the first time as foreign exchange trader after another cambio operator exited the market there. Lasco Financial’s remittance arm already has a presence there.

“Port Antonio had a cambio that was closed late last year and we saw that the market was still there for transactions with the customers,”said Lasco Financial managing director, Jacinth Hall-Tracey.

The West Street location was opened in April, she said, with an official launch two weeks ago.

While tight-lipped on the business Lasco Financial expects from the outlet, Hall-Tracey said the company is  satisfied with the numbers in the more than three months of operation, saying the cambio has so far exceeded in-house projections.

The Port Antonio office marks the second rural foreign exchange bureau for the company with the other set up in Ocho Rios three years ago.

“We have a network of MoneyGram agents islandwide, so were we see opportunities within those locations to offer the services, we partner with our agents - so that was exactly what we did for this location,” she said.

“Because the business was already set up to offer service to the customers, it was just a matter of getting one of the windows,” she said noting  the capital outlay was minimal.

Lasco’s MoneyGram franchise operates more than 100 locations islandwide.