Yet another digital, cashless, online payment system has recently launched in Barbados as the jurisdiction continues its journey into the world of digitisation and e-commerce.
WiPay is the Caribbean platform that makes it easier for individuals and companies to make and receive payments without the use of cash or the traditional credit card. The platform facilitates and creates a payment avenue for both the banked and unbanked, as payments can be accepted from anyone, anywhere and at any time.
According to Chief Executive Officer (CEO) Aldwyn Wayne, "WiPay is a solution to allow anyone to start receiving payments." He noted that Barbados' new online payment gateway offers solutions for businesses who want to sell their products and services online. "Starting the process to enabling entrepreneurs to accept both credit cards and cash online is free."
WiPay could not have launched at a more opportune time, as the current Covid-19 pandemic has increased the need for online payments. "Businesses that can manoeuvre and leverage technological resources and investment to digital platforms will reduce the impact of the pandemic and enable their companies to run smoothly now, and in the long term," said the CEO.
Payments can be accepted via several modes including through social media platforms such as Facebook, Instagram, WhatsApp or Twitter. They can also be made via email, website, cash vouchers and WiPay point-of-sale terminals. WiPay point-of-sale terminals are expected to be available to customers in Barbados by the end of 2020. Already, some local businesses have been utilising the digital platform and are finding the payment solutions within their business operations to be easy and efficient.
Discussions between WiPay and the Central Bank of Barbados are continuing regarding the company's operations.
In addition to Barbados, WiPay has also launched in Trinidad, Jamaica, Guyana and St. Lucia.
Adapted from Barbados Today & TechNewsTT
Originally published May 26, 2020.
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