MONCTON (GNB) – Dream Payments, a Toronto-based financial technology company, will create up to 125 new full-time positions in Moncton.

“Your government is focused on economic growth,” said Premier Brian Gallant. “There is no doubt that Dream Payments is investing here because New Brunswickers provide businesses with a strong workforce. These jobs being created right here in our province will contribute to the economic growth we all want to continue to see.”

Dream Payments enables financial institutions to provide mobile point-of-sale (mPOS) solutions, B2B payments, and value-added commerce services to their business customers.

The company opened its Centre of Excellence in Moncton in July 2017 and now employs 13 people at that office. The new positions to be created in Moncton 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. “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 creation of up to 125 new full-time positions over the next four years is 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.

To support the creation of these new jobs, the company is eligible for up to $2 million in support from Opportunities NB, which is a Crown corporation that seeks to attract and support opportunities to grow the economy and create jobs. It provides support services for businesses across the province.

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 January 2018. 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.

“There are exciting things happening in New Brunswick so it is no surprise that Dream Payments chose Moncton and is recruiting not only New Brunswickers but bringing people to our province,” said Finance Minister Cathy Rogers. “Dream Payments’ unique technology will add to the province’s highly-skilled workforce and will create more employment opportunities in New Brunswick’s growing technology sector.”

Rogers spoke on behalf of Economic Development Minister Francine Landry, who is also the minister responsible for Opportunities NB.