PayMaster Limited was incorporated in 2004 by a few visionary Nigerian institutional investors. The company evolved from Chams‘ pioneering efforts in the electronic payment space. Chams Nigeria Limited has been an active player in the e-payment space, having provided services under the Valucard consortium supplying and supporting Smartcard, Card Readers, EFTPOS Terminals, etc.

PayMaster was envisioned as an e-business infrastructure provider, setup to run a secure and scalable e-infrastructure based on an independent Multi-application/Multi-scheme Point of Sale (EFTPOS) terminal network that will facilitate all Electronic Financial Transactions in Nigeria.

PayMaster aims at rapidly expanding its network of POS terminals to cover the entire nation and will accept cards from all payment schemes in Nigeria by connecting directly to relevant electronic transaction switching and processing companies such as Valucard/Visa, Mastercard (CTL), Interswitch and eTranzact and any others that may come up in future within the country.