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Thursday 6 August, 2020

The Digital Age with Keron Mc Leish: 3 alternatives to Paywise

As April kicks off, we have to say goodbye to Paywise, a service that has been the lifeblood for many businesses.

If you don’t know by now, Paywise was a service that allowed your business to collect payments at your nearest Lotto booth.

Ian Alleyne (Paywise CEO) was alerted on Carnival Sunday from IGT, the company responsible for the terminals inside the NLCB booths, that they would no longer be allowed to operate.

They weren’t the only one to receive this message as any company who was acting as a payment aggregate (Wipay, Mypay) received this message as well.

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They were told that the NLCB network managers did not have enough oversight to manage the services of payment aggregators. So what can you do since their cut off day is on April 3 and will be suspending all services while they try to find a solution to come back to the market in three months?

If your business was relying on the cash payments option from Paywise and you are looking for another option besides telling your customers to go line up at the bank to deposit your payments, here are some options for you.

Wipay Direct – In a response to Paywise closing down and clients becoming displaced, Wipay created “Wipay Direct” upon request to replace Paywise. They had their terminals built and closed deals with NLCB, Massy, Grace Kennedy and other brands to have them installed at their locations. They will be officially rolling out their new service on April 3. Customers will be able to go to a location where there is a Wipay terminal and pay cash/linx to your business. You will need to register with Wipay and tell them to sign you up for Wipay direct.

Bank Deposit – Yes, Yes, I know, the dreaded bank. Remind your consumers that a Fast deposit box is still a good option for Cash Payments.

Online Banking – Now is the perfect time to ensure you are registered with online banking. Once you have the business you are trying to pay accounts number, you are able to simply send the money online and send the business the confirmation number when the payment has been completed.

As of a right now, if your consumers are still very big on cash, those are your only two options to accept cash payments. Wipay is also opening their doors until April 3 for you to visit their location at 95 Picton St, Port-of-Spain if you would like to get on the spot account verification for your business. Make sure you carry one piece of ID and your company’s registration documents.

You can visit the Wipay website to see all of the locations where their Wipay terminals have rolled out to as of April 1 at 11 am.



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