According to the press release, both companies will collaborate to drive greater financial inclusion in the islands through a suite of payment and acceptance solutions. Therefore, as a part of the partnership, WiPay will do the following:
Leverage Mastercard’s Bank in the Box solution to empower SMEs through card acceptance – Bank in the Box is an end to end solution for SMEs that do not accept card payments and that are not financially included.
Partner with a local financial institutions that will issue a Mastercard prepaid card, to strengthen local digital ecosystems and facilitate seamless, fast, and transparent disbursements of funds for SMEs and citizens.
Leverage payment solutions for government programmes, including CourtPay (to facilitate court maintenance disbursements such as child support), GovPay (to facilitate public help services), Digital ID (EMV Card for Digital Identification and Disbursements).
The collaborative solutions will roll out in Jamaica and Trinidad & Tobago initially, with launches in Grenada, Guyana, Dominica, Barbados, St. Kitts, St Lucia, St. Vincent, and in the Bahamas, among others in the near future.
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