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Local start-up touts cashless payments

Published: 
Tuesday, September 5, 2017
Chairman of WiPay Gerald Hadeed, left, and Chief Executive Officer of Massy Stores, Derek Winford, third from left, congratulate each other following the launch of the cashless payment facility at Digicel’s Imax in Woodbrook, Port-of-Spain, yesterday. Also in photo, from left, are WiPay CEO Aldwyn Wayne, Hubbox Grocery CEO Andre Aleong and Unipet COO Kirt Hills. PHOTO: SHIRLEY BAHADUR

Local e-commerce start-up WiPay hosted a formal launch event yesterday at the Digicel IMAX Theater in Port-Of-Spain to showcase its suite of cashless payment offerings and payment processing technology.

Delivering the opening address, company chairman Gerald Hadeed noted that the global e-commerce landscape is going through a significant transformative period.

“We are witnessing major disruption taking place in the global payments and e-commerce business and technology is the leading driver of this disruption. We need to develop an economy that is based on technology” Hadeed said.

In a presentation that lasted about two hours, WiPay CEO Aldwyn Wayne demonstrated to those in attendance how cash could be loaded to a WiPay account and then used to conduct payments at different stores and locations around T&T, and the ease with which funds could be transferred to different accounts in countries around the world. He added that the company’s payment platform eliminated the interchange processing fees that merchants currently must pay for transaction processing while pointing out that “Blockchain” technology was the main platform that kept all WiPay transactions safe.

Also speaking at the event was Massy Stores CEO Derek Winford who spoke about the supermarkets’ plans to begin the rollout of WiPay payment processing across the country, Unipet COO Kirt Hills who noted the integration of WiPay technology into hardware at the fuel pump to reduce transaction times, and Andre Aleong, CEO of online grocery store Hubbox, who commended WiPay for making online shopping easier in T&T.