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WiPay to be listed as a digital asset on the JSE in 2020

Published:Thursday | December 19, 2019 | 12:12 AMAlbert Ferguson/Gleaner Writer


WiPay Jamaica, a technology solutions company that simplifies e-commerce, has indicated that it will be going public and plans to list on the junior market of the Jamaica Stock Exchange in the first quarter of 2020.

Aldwyn Wayne, the founder and chief executive officer, made the announcement at the fourth staging of the Jamaica edition of Tech Beach Retreat, which was held in Montego Bay recently.

“We know Jamaica has the best-performing stock market in the world, which indicates that it’s the place to do good business, so we opened a location here in Jamaica. We intend to utilise this stock market, so in 2020 we will partner with Blockstation to get into digital asset trading which will allow for WiPay to be traded on the JSE,” said Wayne, while addressing local, regional and international technologists.

Promising future

According to Wayne, his company has been in dialogue with Blockstation, a leading Canadian fintech company, so that the company can be listed as a digital asset on the junior stock market by Blockstation in the coming year.

Wayne said, WiPay, which is deemed the PayPal of the Caribbean, has a bright and promising future ahead in 2020 and that the level of regional collaboration can only serve to improve the Caribbean’s innovative ecosystem.

“WiPay was created in 2016 as a direct result of a persistent problem. The Caribbean faced challenges with digital payments and the lack of ‘financial inclusion’ for the majority of persons. WiPay developed a uniquely inclusive platform that is secure, flexible and simple to use,” explained Wayne.

According to Wayne, WiPay allows anything connected to the Internet to move money quickly, safely and easily for the ‘banked’ and for the ‘unbanked.’ He further noted that WiPay integrates with existing legacy systems to bring payments over the Internet to any industry, taking advantage of the latest developments in technology.

“WiPay is the number one payment platform in the Caribbean empowering people to accept and make payments online using all forms of payment in local currency,” noted Wayne.

He said he was not ready to say what will be the initial cost of the public offering of shares that will become available as some finer details are being worked out. The junior market initial public offering cannot be less than a band of $50 million or more than $500 million.