MONCTON– Toronto-based financial technology company Dream Payments is expected to create up 125 jobs over the next four years in Moncton thanks to help from the province.
Dream Payments, which opened its Moncton office back in July, provides businesses with mobile point-of-sale solutions through its secure payments cloud and device- management platform. Dream is the world’s only mobile platform that enables Interac® Debit and Chip and PIN credit card payment terminals to be sold off-the-shelf. The company’s technology is also used by financial institutions and acquirers including Chase Paymentech to deliver user-friendly mobile payment solutions to their business customers.
The company currently employs 13 people in the Moncton office. The new positions will include project managers, web developers, software engineers and quality assurance personnel.
“We are very pleased with the early success of our Centre of Excellence in Moncton,” said Dream Payments CEO Brent Ho-Young, in a release “Our employees have received a warm welcome from the community, and we are seeing tremendous opportunity to grow in the region. None of this would have been possible had it not been for our partnership with Opportunities NB. New Brunswick truly is a great place to do business.”
The 125 new full-time positions over the next four years are expected to generate an estimated $3.9-million in provincial income taxes over a four-year period and contribute $31.5 million to the province’s GDP in that same period.
The company is eligible for up to $2-million in support from Opportunities NB. Under the terms of the agreement, up to $200,000 may be used to help cover expenditures related to relocating the company’s employees from outside of Canada to New Brunswick.
The balance of the funding will be in the form of payroll rebates for a four-year period beginning in January. Payroll rebates are performance-based and only disbursed to a company once it has created and maintained the jobs for one year and provided proof of salary levels and employment.