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WIPAY, Local Payment Platform

Update (6 SEP 2017) – The service was hard launched this week. See their updated website for more info –

Came across a link to the WIPay website on facebook a few days ago and then it was just a countdown to a launch. My interest was piqued and I waited for the launch (which happened only yesterday) and tried to get in contact with the creators. Found the facebook page today and contacted them through that to get more information for this blog post. Kudos to them for taking the initiative and pushing tech like this in Trinidad. The launch was only a soft launch and more information with support contacts will be added to the website. I am sure they will appreciate your support and feedback as they progress.

Based on my conversation this is my understanding of what it is and how it works. It is an online and mobile payment platform developed locally. ColdWater Ltd developed the service. You load cash into your WIPay account at any Massy or NLCB location or with your credit card. Money in your WIPay account can then be used to make purchases anywhere WIPay is accepted using the app or online. It can be thought of as a local alternative to PayPal or Apple Pay or Samsung Pay. The app uses a patented ultrasound near field communication that allows for tokenization payment, so you can tap to pay. Money in WIPay accounts is held at a credit union that’s insured. NLCB insures it from load to transfer, then the credit union, that provides the holding account, provides the insurance until use. Cashing out is only available for merchants. The service is monetized by charging for loading cash into your WIPay account. There is no charge for transactions.

On a personal level I would start by using (or testing) this service with a small cash amount. I do not use my credit card (which is prepaid and only has small amounts on it at a time) until I see that a website is secured and trusted and my credit card details and personal information is secured. As with any service I will encourage you to do your research and ask questions. Make use of the support contacts when they are provided and give them feedback so that the service improves to better serve us.

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