Regional fintech company WiPay, through its scan to pay app, is seeking to revolutionise the way transactions are done within the thriving delivery service market.

Through a recent partnership with food delivery service Cutdiline, the integration of the payment platform, which is now being piloted for full roll-out later next year, has been reaping significant rewards within the space.

The scan to pay app is an ePOS (electronic point of sale) QR code solution that accepts contactless payments at point of sales, offering customers a secure and simple way of paying. At the scan of a QR code, customers are able to have control over their transactions from their own mobile devices as they process payment for services from their debit or credit cards.

According to Kibwe McGann, WiPay Jamaica country manager, the scan to pay app was designed to eliminate the problems experienced with traditional POS machines, allowing for more accessibility and efficiency.

“Stemming from the usual complaints of machine failures, dead batteries, paper running out or cloud cover affecting service, the scan to pay technology was developed to counter these problems. The real success for us is that our clients have not reported any failures since piloting the system in November,” he told the Jamaica Observer yesterday.

“We have been working with Cutdiline since the start of the E-commerce National Delivery Solution (ENDS) and so far we’ve been really getting tremendous success, and that really is the nature of the partnership. We are, however, looking to roll out the service to the entire delivery industry over time,” he added.

McGann said that among the other suites of payment products offered by WiPay, the scan to pay service, which was modified to capitalise on the exponential rise of delivery services since the novel coronavirus pandemic, further aims to double down in untapped areas.

Referencing Bank of Jamaica statistics that indicate point of sale payments from approximately 16,000 terminals generating some $11 billion in revenues monthly, McGann said he believes only a marginal portion of the over 200,000 terminals needed to satisfy local demand was being met. He said this exposes a largely underserved industry, which his company is hoping to take advantage.

“For WiPay, we look at the underbanked segment as we try to create more financial inclusion for them,” McGann said.

Victor Clemetson, chief executive officer (CEO) of Cutdiline Delivery Services, speaking to the benefits of the partnership, said that since the introduction of the WiPay technology, customers have been drawn to this method of payment, which they deemed easier to use than traditional POS machines.

“The customers have been drawn to this method of payment since we have introduced it as not everybody wants to pay online or with cash, so this now provides them with an additional option. With this technology we have gained some new customers who feel more comfortable with the enhanced security benefits,” he also told the Caribbean Business Report.

“This technology really enhances the food service industry and it’s really revolutionary in the restaurant industry based on the method of collecting payment,” he added.

Cutdiline, which operates through a network of about 50 delivery personnel, is also seeking to build on the partnership, harbouring hopes to tap into other territories outside the local market.

“We are moving to expand along with WiPay throughout the Caribbean. Our target markets outside of Jamaica after we have completed islandwide expansions would be Barbados and Trinidad. With WiPay already in these markets, it will be easy transition for us as a result of the partnership,” Clemetson said, noting that locally plans were also being finalised for his company to set up shop in Ocho Rios up from its current Kingston and Portmore operations.