WiPay

What WiPay does

WiPay is a Caribbean-focused payment solutions provider founded in 2016 by Aldwyn Wayne and headquartered in Port of Spain, Trinidad & Tobago. The company operates a unified multi-territory payment platform serving individuals, SMBs, and enterprises across 15+ Caribbean territories (Jamaica, Trinidad & Tobago, Barbados, Guyana, Saint Lucia, Grenada, Eastern Caribbean nations, and the United States) with local currency settlement in JMD, TTD, BBD, GYD, XCD, and USD. Its product portfolio spans WiPay Me (personal payment links), Scan2Pay (QR payments), WiPay Invoicing, Payment Links, POS terminals, COLOUR (tap-on-phone), and the WiPay REST API, supported by e-commerce plugins for WooCommerce, Magento, Shopify, WordPress, and other platforms. The technical stack includes PCI DSS Level 1 compliance, KOUNT fraud monitoring, Auth0 identity management, and Visa/Mastercard SecureCode authentication.

WiPay generates revenue primarily through transaction processing fees ranging from 2.5% to 4.5% depending on territory and plan, supplemented by tiered monthly subscriptions (Basic Free, Business Plus at USD $19.99, Premium at USD $49.99), POS terminal rentals (TTD $250/month), and ancillary fees for chargebacks and refunds. Distribution operates through three coordinated motions: self-serve digital onboarding for SMBs and individuals, direct enterprise field sales for large clients such as Caribbean Airlines and PriceSmart Trinidad, and an API-first developer go-to-market with sandbox environments and plugin documentation. The company is licensed as a Payment Facilitator across Visa, Mastercard, JCC, EMTECH, and PSE networks, and operates within The WiPay Group alongside subsidiaries WiLoan, COLOUR, WiPay Remittance, and Nimble Mobile. WiPay has reported 500K+ merchants and 10M+ transactions across its platform, with US operations processing over $2 million monthly.

Name

WiPay

Legal name

WiPay Payment Solutions Limited

Website

https://wipaycaribbean.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

WiPay is a Caribbean payment platform offering multi-currency card processing, QR payments, POS terminals, invoicing, and developer APIs across 15+ territories, serving SMBs, enterprises, and individuals with local bank settlement.

Ownership category

akta.pro rank

Product category

Payment Processing

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industries

POS-to-Online Unified Payments (Omnichannel Payments) (CRAFALAL), Cross-border Payments, FX & Multi-currency Checkout (CRAFAJAF)

Keywords

• Digital payment processing
• Payment gateway services
• Point of sale terminals
• Mobile payment solutions
• Cross-border remittance

Headquarters

HQ city

Port-of-spain

HQ country

Trinidad & Tobago

HQ region

Latin America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Transaction Processing Fees: Percentage-based fees charged on each payment processed. Fees vary by territory from 2.5% to 4.5% depending on local taxes, currency, and card network partners. Includes gateway fees of USD $0.25 per transaction for some territories.
2. Subscription Plans: Monthly subscription tiers: Basic Free (no monthly fee, higher transaction rates), Business Plus at USD $19.99/mo (TTD $139), and Premium at USD $49.99/mo (TTD $348). Higher-tier plans offer lower transaction rates.
3. POS Terminal Rental: Monthly rental fees for physical payment terminals at TTD $250/month (or equivalent in other currencies), includes maintenance and support.
4. Chargeback and Refund Fees: Fees charged per incident: TTD $75 per chargeback, TTD $25 per refund transaction. Additional fees for Jamaica (JMD $1,500 chargeback, JMD $500 refund).
5. WiPay Remittance: Money transfer services across the Caribbean, including WiPay Top-Up vouchers for cash-based payments at authorized agent locations.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

WiPay operates a unified electronic payment processing platform that enables Caribbean merchants, businesses, and individuals to accept card payments via POS terminals, shareable payment links, QR codes, hosted invoices, mobile tap-on-phone (COLOUR), and online checkout integrations. It supports multi-currency settlement across 15+ territories and provides a REST API plus plugins for WooCommerce, Shopify, Magento, WordPress, Wix, OpenCart, and PrestaShop. Adjacent offerings include WiPay Remittance for cross-border transfers and WiPay Top-Up vouchers (including CourtPay and GovPay) for cash-based payments at authorized agents.

Product overview

WiPay is a Caribbean payment platform offering a unified ecosystem of payment products. The core portfolio includes WiPay Me (personal payment links), Scan2Pay (QR code payments), WiPay Invoicing (professional invoicing), Payment Links (shareable payment URLs), POS Terminals (physical card terminals), Online Payments Gateway (e-commerce integration), and the WiPay API (developer integration). Supporting products include COLOUR (tap-on-phone mobile payments), WiPay Remittance (cross-border transfers), and Top-Up Voucher services (WiPay Top-Up, CourtPay, GovPay) for cash/debit card payments at authorized agents. The platform operates across 8+ Caribbean territories with local currency support (JMD, TTD, BBD, GYD, XCD) and USD processing.

Differentiator

Problem solved

Functional benefit

Brands

• WiPay Me: Personal payment link solution allowing individuals to receive card payments via shareable links, QR codes, and direct transfers without business registration
• Scan2Pay
• WiPay Invoicing
• WiPay POS Terminals
• WiPay Remittance
• COLOUR
• WiLoan

Products and services

• WiPay Me

Quantifiable outcome

• 20% increase in online sales for PriceSmart Trinidad
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature6 records

Partnerships

16 partnerships are on record, tiered core, minor and flagship.

• MastercardcoreStrategic or Co-development Partner · 12 June 2021Strategic partnership announced June 2021 to enhance payment solutions across the Caribbean region. WiPay operates as a licensed Payment Facilitator under the Mastercard network.
• Major Money Transfer CompanyminorStrategic or Co-development Partner · 1 June 2021WiPay Caribbean announced signing with major money transfer company in June 2021, expanding remittance services across the region.
• EMTECHcoreStrategic or Co-development PartnerStrategic Partnership to Advance Regional Settlement Networks and Develop Digital Financial Solutions. EMTECH provides infrastructure for regional settlement networks.
• Government of JamaicaflagshipOthersThe Government of Jamaica officially endorsed WiPay's online payment facility in March 2023, recognizing it as a secure and efficient payment solution.
• KOUNTcoreTechnology or IntegrationAdvanced fraud detection and monitoring system used by WiPay for suspicious activity detection and fraud pattern monitoring.
• Auth0coreTechnology or IntegrationIdentity management and secure login platform used for customer authentication and identity verification.
• FinTech Association of Trinidad and TobagominorOthersMember of the FinTech Association of Trinidad and Tobago, demonstrating commitment to industry standards and collaboration.
• Trinidad and Tobago Chamber of Industry and CommerceminorOthersMember of the Trinidad and Tobago Chamber of Industry and Commerce, demonstrating business credibility and local business community engagement.
• Jamaica Chamber of CommerceminorOthersMember of the Jamaica Chamber of Commerce, demonstrating commitment to Jamaican business community.
• Private Sector Organisation of Jamaica (PSOJ)minorOthersMember of the Private Sector Organisation of Jamaica, demonstrating engagement with Jamaican private sector.
• Caribbean Settlement Network (CSN)minorStrategic or Co-development PartnerStrategic partnership for regional settlement services. Dr. Justin Ram serves as CEO of CSN and is part of the WiPay Group leadership.
• Nimble MobileminorStrategic or Co-development PartnerStrategic partnership with Nimble Mobile for digital innovation. Kwesi Prescod serves as CEO of Nimble Mobile and is part of the WiPay Group leadership with 25+ years in telecom.
• WiPay GroupflagshipOthersWiPay Caribbean is part of The WiPay Group, which includes subsidiaries WiLoan, COLOUR, WiPay Remittance, Nimble Mobile, and WiPay Processing.
• VisacoreTechnology or IntegrationLicensed Payment Facilitator with Visa, providing bank-grade security for all transactions. Includes Visa Verify authentication.
• Jamaica Chamber of Commerce (JCC)minorOthersLicensed payment facilitator under JCC (Jamaica Chamber of Commerce) network for local regulatory compliance.
• PSE (Payment Service Entity)coreTechnology or IntegrationLicensed Payment Facilitator under PSE regulatory framework for payment processing compliance.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• First Atlantic Commerce: First Atlantic Commerce is a Bermuda-headquartered payment gateway provider specializing in the Caribbean and Latin America, offering multi-currency processing and fraud prevention. It is the closest direct competitor to WiPay, targeting the same merchant segments with similar API-based payment gateway capabilities across the Caribbean region.
• Direct Pay Online: Direct Pay Online is a payment service provider for the Caribbean and Latin America, offering online payment processing, fraud prevention, and local payment method support. It directly competes with WiPay for Caribbean e-commerce and merchant payment gateway business, with overlapping multi-currency capabilities.

Broad incumbents

• Stripe: Stripe is a global payment infrastructure platform offering merchant payment gateways, APIs, fraud tools (Radar), and extensive developer tooling. While not Caribbean-focused, Stripe is the dominant global API-first payment gateway that WiPay's developer-focused positioning overlaps with, and represents a potential entrant threat to the Caribbean market.
• Block (Square): Block operates Square for in-person POS payments, Cash App for P2P, and merchant services globally. WiPay's combination of POS terminals, COLOUR tap-on-phone, and Scan2Pay QR mirrors Square's omnichannel payments stack, making Block a broad incumbent peer as it continues expanding internationally.
• PayPal: PayPal is a global digital payments platform serving merchants and consumers with online checkout, P2P (Venom), and B2B payments. PayPal's global reach, diaspora remittance (Xoom), and merchant services compete broadly with WiPay's full-stack offering for Caribbean merchants and US diaspora customers.
• Fiserv: Fiserv is a global fintech providing merchant acquiring (Clover, First Data), payment processing, and financial institution technology. Fiserv processes payments at scale worldwide including through Caribbean banking relationships, making it a broad incumbent competing for the same enterprise merchants WiPay serves.
• Worldpay (FIS): Worldpay, owned by FIS, is one of the largest global merchant acquirers and payment processors, offering gateway services, fraud tools, and multi-currency processing. Worldpay competes with WiPay at the enterprise merchant level for Caribbean airlines, retailers, and large multi-location businesses.
• Western Union: Western Union is the global incumbent in cross-border money transfers with deep Caribbean retail agent presence. Western Union competes with WiPay Remittance for cross-border flows and serves as the legacy incumbent in Caribbean remittance corridors that WiPay is digitizing.

Emerging players

• Wise (formerly TransferWise): Wise is a cross-border payments specialist offering multi-currency accounts and low-cost international transfers, competing directly with WiPay Remittance. While Wise's Caribbean presence is still developing, its lower FX margins and digital-first remittance model overlap with WiPay's remittance and multi-currency strategy.
• Remitly: Remitly is a digital remittance platform serving diaspora corridors including Caribbean-to-US transfers. Remitly directly competes with WiPay Remittance for the Caribbean diaspora remittance market and has stronger digital marketing and mobile app presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/wipaycaribbean
• Instagraminstagram.com/wipaycaribbean

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WiPay