ST GEORGE’s, Grenada, CMC – The regional Fintech firm, WiPay, has acknowledged that it’s going to deal with latest studies relating to verifying its license by the Grenada Authority for the Regulation of Monetary Establishments (GARFIN).
Group CEO and founder Aldwyn Wayne has disputed a discover issued by GARFIN that the license granted by the physique to the regional fee providers was revoked.
“In October 2022, Wipay paid Garfin for a one-year, renewable license to supply an over-the-counter remittance service in Grenada,” mentioned Wayne.
“However till October 2023, when the license would have ended, Wipay had but to operationalize it. We wrote to Garfin in July 2023 indicating that Wipay had no real interest in renewing its license with them as a result of it was for an over-the-counter remittance service from a bodily location that we merely didn’t present.
“When the renewal fee was due in January 2024, we confirmed that we’d not be making the fee, thereby guaranteeing no new license could be issued.”
Regardless of GARFIN’s assertion, WiPay continues to function in Grenada, actively offering on-line fee processing and facilitation providers.
The corporate says this underscores WiPay’s dedication to digital monetary options and its help for native companies and customers by way of its cashless fee mannequin.
Associated
