AwiPay targets slice of online bill payment market
KINGSTON, Jamaica—There’s a new player in Jamaica’s increasingly competitive online bill payment space.
AwiPay aims to procure a share of the lucrative market through a digital platform that its founder and CEO, Errol Bailey, says will provide customers with the “easiest ways to make essential functions of life easier”.
In a press release, Bailey said, “AwiPay is one of these innovations that I am proud to introduce to Jamaica, the Caribbean and the world. AwiPay, is the digital payment bridge between Jamaica, the Caribbean and our diaspora communities.
“The introduction of AwiPay will uniquely impact the Jamaican consumer positively by providing, easy and convenient payment options, at their fingertips,” he added.
According to the release, AwiPay is set to “re-shape Jamaica’s digital payment landscape” by introducing innovative payment options such as mobile point of sales (M-POS) solution and real-time payment reconciliation. It is also set to “integrate commerce for collections of funds on your Instagram, Facebook account, making it easier for businesses to provide ‘mobile billfolds’ for consumers”, the release said.
AwiPay can be used by all consumers and businesses alike. It will be available in ‘app’ form and is therefore downloadable on the iOS and Google Play, the release stated.
The local online bill payment market has become increasingly competitive in recent years as more entities outside of the core industry, including banks, introduce the service on their digital platforms.
For the January to June period of 2021, bill payment companies recorded 12.1 million transactions valued at $205.9 billion, according to Bank of Jamaica data.
