ST GEORGE’s, Grenada, CMC – The regional Fintech company, WiPay, has stated that it will address recent reports regarding verifying 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Wayne has disputed a notice issued by GARFIN that the license granted by the body to the regional payment services was revoked.
“In October 2022, Wipay paid Garfin for a one-year, renewable license to provide an over-the-counter remittance service in Grenada,” said Wayne.
“But until October 2023, when the license would have ended, Wipay had yet to operationalize it. We wrote to Garfin in July 2023 indicating that Wipay had no interest in renewing its license 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 GARFIN’s statement, WiPay continues to operate in Grenada, actively providing online payment processing and facilitation services.
The company says this underscores WiPay’s dedication to digital financial solutions and its support for local businesses and consumers through its cashless payment model.
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