Digital payments in Trinidad and Tobago received a major boost as regional fintech company WiPay unveiled a series of new services, including expansions into lending, telecommunications, travel services and a new national payment integration platform.
At Thursday’s event at the Hyatt Regency hotel, Wipay’s Founder/CEO Aldwyn Wayne highlighted initiatives such as WiLoan, WiTravel – a new telecommunications division – and the National Payment Integration Company of Trinidad and Tobago, all aimed at improving access to financial services and modernising how citizens and businesses conduct transactions.
“So for us, it was the natural next step to provide value. Let’s provide digital services for government. We did it in Jamaica, we did it in Grenada, we did it in Ghana, and now with the National Payment Company of Trinidad and Tobago, we’re about to do it in Trinidad. Those pillars, together, would now enable the Caribbean to play on the global stage.”
Mr. Wayne said the new services aim to make digital finance more accessible, simplifying everyday transactions and supporting individuals and businesses outside the traditional banking system.
WiPay’s Chief Marketing Officer, Kibwe McGann, added that it all starts with payments.
“When a small business finally accepts digital payments, that is dignity. When a public office goes cashless, that is progress.”
One key announcement was the creation of the National Payment Integration Company of Trinidad and Tobago, which is designed to unify public-sector payments and give citizens faster, more consistent access to government services.
Minister of Planning, Economic Affairs and Development, Dr. Kennedy Swaratsingh, noted that progress has been slowed by limited technology adoption, highlighting the need for change.
“Even now, you still have people who are resistant to allowing the technology to be much more ubiquitous with the behaviours that we have. For me, the biggest impediment, or the single thing I would want to see, is greater adoption of the technology into the ordinary things we do.”
Minister of Public Administration and Artificial Intelligence Dominic Smith highlighted the importance of building strong digital infrastructure as government services continue to modernise. He noted that WiPay’s new services support the government’s vision of streamlining public service processes.
“We envision that through the use of technology, a lot of what you’re say there, it will, one, provide cost saving to the government, provide more efficient ways of doing repetitive tasks that now can be, shorter lead times, shorter transaction cost, which again redounds to the benefit of the citizen. And of course, digitise as much as possible any service that the public can now interface with and do so in an equitable manner.”
The private sector also responded positively, particularly to the introduction of WiLoan.
Group CEO at First Citizens Group Financial Holdings Jason Julien said this could help small businesses and independent workers access capital quickly, without the hurdles of conventional banking.
“It has to be the customer experience, and improving the customer experience has to be the yardstick that we use. Even if the old system used to work, is it the best way to do it?”
Across all the announcements, WiPay presented a unified vision of a Caribbean where financial services, travel and government transactions are increasingly integrated, and where digital systems play a larger role in everyday life.