Watch: WiPay set to expand e-commerce possibilities in T&T
CEO of WiConnect Christian Hadeed walks the audience through the various features of the new point of sale devices WiPay is introducing to the market
WiPay, the e-commerce platform which currently allows users to make payments online without the need for a credit card, has launched two new services designed to broaden the e-commerce experience in Trinidad and Tobago.
According to WiPay CEO, Aldwyn Wayne, credit card permeation within Trinidad and Tobago is around 20 percent, meaning that roughly 80 percent of the population is barred from engaging in e-commerce transactions.
After its launch last year, WiPay provided a solution to that problem.
The service currently allows its customers to send and receive money via the website, make payments online without a credit card and facilitates the implementation of e-commerce function on merchant websites.
On October 17, at a well-attended launch at Digicel IMAX, Wayne announced that it the company is also launching a mobile app designed to make all of WiPay's services even more accessible to users.
Buyers and vendors alike can add funds to their WiPay ‘wallet’ through WiPay top-up vouchers purchased with cash at participating NLCB outlets, by transferring funds from their bank account on to their 'wallet' or receiving funds from other users.
Through this app, small business owners who do not even have a bank account are able to send and receive money from customers through the invoicing feature on the app.
The WiPay mobile app will be available to download from the Apple Store and Google Play Store from November 1.
Wayne also revealed a second product that WiPay would be introducing to the market.
For brick-and-mortar locations or those businesses which need to be mobile, WiPay is launching a line of point of sale devices which range from handheld units to sleek, compact countertop units.
According to initial information shared by a representative after the launch, point of sale devices are in the country but interested merchants are encouraged to get in touch with WiPay for up to date information on when the machines become available.
Merchants will pay an upfront fee for the devices, a portion of which will be refundable upon return of the unit. There is a monthly subscription fee which covers the cost of paper for the unit as well as the sim card required for its operation.
Merchants will reportedly also have the opportunity to earn a commission if they allow their point of sale unit to be used to make payments to those WiPay partners, such as Digicel or Caribbean Airlines.
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