Caribbean payment solutions company, WiPay, recently announced the introduction of WiPay Remittance during its launch event in Grenada. 

The event marked an important milestone as WiPay introduced the first digital wallet remittance service in the Eastern Caribbean, revolutionizing money transfers in the region.

The launch event, held at the Radisson Hotel in Grenada, received significant attention from industry leaders, stakeholders, and distinguished guests. WiPay showcased the innovative features and benefits of WiPay Remittance, which will soon be available to individuals in Grenada and Trinidad, providing a convenient and secure way to receive funds.

During the event, Aldwyn Wayne, CEO and founder of WiPay Group, and John Mollenthiel, CEO of WiPay Trinidad, highlighted the transformative potential of WiPay Remittance.

They outlined several key advantages that the upcoming service will bring to individuals in Grenada and Trinidad, offering a streamlined and efficient money transfer experience.

For his part, Wayne commented on the launch, stating, “his will bring about a significant transformation in the remittance landscape of the Eastern Caribbean and Trinidad”.

“Ria is a global leader in the remittance industry, with an extensive network of over 500,000 brick and mortar locations across 160 countries. This partnership will not only have a considerable positive economic impact but also save valuable time for individuals by eliminating the need for long queues, allowing them more freedom to pursue their desired activities,” added the WiPay CEO.

The adoption of wallet services in the Caribbean is still relatively new.

In a statement, WiPay said it recognises the importance of meeting users at their level of understanding and addressing their specific needs.

In regions like North America and Europe, payment methods such as Apple Pay and Google Pay have gained widespread popularity. The mobile wallet industry, including semi-closed wallets, has experienced significant growth, reaching a valuation of US$150 billion. With the rise of tech players in the fintech sector, this growth trend is expected to continue,”

“WiPay aims to redefine traditional remittance methods by introducing a seamless and cashless approach. By eliminating the reliance on physical cash handling and reducing waiting times, the service will provide individuals in Grenada and Trinidad with immediate fund transfers directly to their WiPay Wallet. This innovative solution enhances security and simplifies the collection of money from senders located anywhere in the world,” the group disclosed.

According to WiPay, the official launch of WiPay Remittance in Grenada and Trinidad is scheduled for the third quarter of 2023. The product is in the beta testing phase and the company is working diligently towards finalising all necessary preparations for a successful and seamless launch.

WiPay remains committed to delivering innovative and accessible payment solutions that streamline financial transactions, save time, and reduce risk while eliminating excessive fees. The forthcoming launch of WiPay Remittance in Grenada and Trinidad signifies a significant step towards achieving WiPay’s vision of a cashless society in the Caribbean.