WIPAY is looking to enter the online bill payment space through a partnership deal it inked with Prime Trust Financial Corporation (PTF).

The payments solution company will outfit all of PTF’s Quick and EZ Bill Pay (Q&EZ) locations with its WiPay smart terminals for debit and credit card processing as it seeks to expand its point-of-sale (POS) network across Jamaica. To this end, WiPay has earmarked 5,000 POS terminals for distribution next year, as part of the agreement, and estimates that bill payments will exceed $1 billion in transactions.

“This arrangement allows us to add tremendous value-added services to our debit and credit card point-of-sale smart terminals,” Aldwyn Wayne, CEO of WiPay, commented on the deal.

Connecting WiPay’s digital financial services and Q&EZ’s network will allow customers of both companies to easily and conveniently conduct financial transactions including payments to local utility providers JPS, NWC, Flow, among others. In addition, other operators of the WiPay Smart terminals can also earn extra income from bill payments.

“What’s especially exciting for us is the fact we’re providing additional revenue streams for businesses that utilise our point-of-sale machines. The nail tech or the barber can now accept card payments for their business but also for bill payments, earning them income outside their primary business,” Wayne explained.

For PTF’s CFO and managing director, Richard Chang, the partnership is a win-win.

“We are excited to be partnering with WiPay to expand the financial capabilities of vendors and merchants by giving increased convenience of collecting payments from customers through WiPay’s revolutionary terminals, and ease of access to their earnings via our islandwide network of Quik & EZ Bill Pay locations,” he said.

With an increase in the adoption of digital financial systems, Kibwe McGann, WiPay country manager for Jamaica, believes that his company’s partnership with PTF is a natural fit and is an opportunity to create more attractive digital financial services.

“WiPay currently operates in several Caribbean countries and we have witnessed swift growth through greater customer uptake of digital financial services by offering more diverse customer-centric products. Partnering with Prime Trust was therefore a logical step in generating adoption. This we believe will play a very critical role in Jamaica’s transition away from a cash-based society to embrace a fully digital financial system,” he outlined.

This latest deal comes just a few days after WiPay struck a similar agreement with Petcom. Under that agreement the regional fintech company will provide online and point-of-presence card processing services to the petrol station operator, and upgrade Petcom’s current point-of-sale terminals to WiPay’s smart terminals for both in-store and at-the-pump payments at all Petcom service stations islandwide.

WiPay operates in Jamaica, Trinidad, Guyana, St Vincent and the Grenadines, Barbados, St Lucia, and Grenada. As a Mastercard partner and the only licensed payment facilitator in the region for Mastercard and Visa networks, it is a leading payment platform in the Caribbean.