ST GEORGE’s, Grenada – The regional Fintech company, WiPay has issued a statement to address recent reports regarding the verification of its license by the Grenada Authority for the Regulation of Financial Institutions (GARFIN).
Group CEO and founder, Aldwyn Wayne, has disputed a notice issued by GARFIN that the licence granted by the body to the regional payment services was revoked.
“The facts are that in October 2022, Wipay paid Garfin for a one-year, renewable licence to provide an over-the-counter remittance service in Grenada,” said Wayne.
“But up until October 2023, when the licence would have come to an end, Wipay had not operationalised it. In fact, we wrote to Garfin in July 2023 indicating that Wipay had no interest in renewing its licence with them because it was for an over-the-counter, remittance service from a physical location, that we simply did not provide.
“When the renewal payment was due in January 2024, we confirmed that we would not be making the payment, thereby ensuring no new license would be issued.”
Despite the statement from GARFIN, WiPay continues to operate in Grenada, actively providing online payment processing and facilitation services.
The company says that this underscores WiPay’s dedication to digital financial solutions and its support for local businesses and consumers through its cashless payment model.
