Lasco launches one-stop money shop

Lasco launches one-stop money shop

BY KARENA BENNETT Business reporter

Sunday, December 18, 2016

LASCO Financial Services Limited (LFSL) has launched Lasco Money, a new one-stop money store concept for its suite of financial services.

The new consumer brand is now the umbrella name for all Lasco Financial Service’s products, including LFSL’s Money Transfer Service (MoneyGram), Lasco Money Rewards Programme, Cambio Service, Loans (Personal and Small Business), Bill Payments, Mobile Top Up, Retail Phone Cards, JUTC Top Up, ePAY Top Up and Plastic Bottle Recycling Voucher Redemption Point through Recycling Partners of Jamaica.

“We are merely simplifying money matters for our customers,” Marketing Manager at LFSL, Nicolene Donaldson stated in a release from the company.

“Our Lasco Money stores offer a myriad of services. There is no need to receive your remittance at one place, change your foreign exchange at another, then go somewhere else to pay bills… plus there are so many more services that we offer at our money stores,” she continued.

According to Donaldson, in launching the Lasco Money brand, the company will also be promoting a rewards campaign which will see all Lasco MoneyGram customers get discounts for goods and services through select merchants islandwide, when transactions are done through any of its 124 agent locations.

Each LFSL branch and agent location will be branded Lasco Money, but the full range of services are only offered through branches in Montego Bay, Papine and Red Hills Road. Other agent locations will offer either remittance, loans or bill payment services.

Lasco Financial has recently been reorganising its portfolios to capture more market share. Just last month the company exited the mobile phone distribution business in light of dwindling profits.

Managing Director Jacinth Hall Tracey told the Jamaica Observer that the company would instead redeploy resources to focus on the growth and development of existing business lines. “The objective of entering the phone distribution business was not being achieved as envisioned, as the turnover of phone sales was slow,” she said.