WiPay signs deal with Yello

WiPay Caribbean is now the official payment processing company for the Yello Media Group. The agreement formalising the partnership was signed last Thursday.

WiPay CEO Aldwyn Wayne told Kalilah Reynolds Media that the partnership will reduce processing costs for both the Yello team as well as its clients across over 20 markets. He says it will also eliminate challenges working with other providers such as PayPal.

Wayne says by mid-July Yello will begin rolling out solutions catering to entrepreneurs and small businesses, with WiPay as the payment processor behind those products.

He says the partnership will allow small businesses and entrepreneurs to get their products delivered faster.

The CEO says WiPay is also looking forward to launching its Jamaica office around mid-July.

It is expected to culminate in the listing of green or climate bonds on the JSE by mid-2022, targeting local, regional and global investors.

JPS applies for rate increases

You should know by September if your light bill will be going up.

The Office of Utilities Regulation (OUR) is reviewing an application by the light and power company for a change in rates.

JPS has also proposed a raise of 3.8 per cent for typical residential customers, and 2.2 per cent for small business customers.

A bill increase within the range of 3-4 per cent has also been proposed for large commercial and industrial entities, and 4.3 per cent for large-scale businesses.

Very large-scale entities using a Time of Use (TOU) rate structure would see a 3.5% increase.

If the OUR does not grant JPS the rate increases, JPS has asked that its annual non-fuel revenue target for 2021 be increased to just over $49 million, versus the company’s projection of $43 million.

Palace reopens two cinemas

Palace Amusement reopened its Carib 5 cinema in Cross Roads and it’s Sunshine cinema in Portmore on Friday.

The decision to reopen came days after the Government gave the go-ahead for such establishments to operate with a maximum 70 per cent capacity.

The two cinemas were closed in March due to new COVID-19 measures, including longer curfew hours.

They reopened with the highly anticipated Fast 9 as well as some other films which have been shown at the drive-in at New Kingston.

Additionally, the New Kingston Drive-In was granted permission to join the ENDS programme until the curfew is extended to 11 pm.

Palace says the other two indoor cinemas, Palace Cineplex and Palace Multiplex, which were also closed in 2020 will remain closed until further notice.

Palace continues to suffer losses due to the pandemic. For the 2020 financial year it posted net losses amounting to $100 million compared to a profit of $70 million a year earlier.