The event marked an important milestone as WiPay introduced the first Digital Wallet Remittance Service in the Eastern Caribbean, revolutionising 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 is scheduled to commence during the 3rd quarter of 2023 to individuals in Grenada and will provide a convenient and secure way to receive funds.
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 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.
During the event, Aldwyn Wayne, CEO and Founder of WiPay Group, and John Mollenthiel, COO of WiPay Group, highlighted the transformative potential of WiPay Remittance. They outlined several key advantages that the upcoming service will bring to individuals in Grenada, offering a streamlined and efficient money transfer experience. CEO Wayne commented on the launch, stating, “This will bring about a significant transformation in the remittance landscape of the Eastern Caribbean. Ria [Money Transfer] 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.”
The adoption of Wallet services in the Caribbean is still relatively new, and WiPay 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, and the mobile wallet industry has experienced significant growth, reaching a valuation of US$150 billion. With the rise of tech players in the fin-tech sector, this growth trend is expected to continue.
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 signifies a significant step towards achieving WiPay’s vision of a cashless society in the Caribbean.