Caribbean mobile payment solutions and fintech company, WiPay, which was founded by Point Fortin’s Aldwyn Wayne, launched its Colour mobile app in Medillin, Colombia last Thursday, to coincide with the company’s sixth WiDay.
WiPay told the Business Guardian that the Colour app, which provides users with a digital wallet and an enabled debit card, is slated for launch in all WiPay territories, including T&T.
“It introduces a debit card with versatile features, allowing online purchases, POS payments, and ATM cash withdrawals. Once an individual has a verified WiPay account, acquiring the app is as simple as downloading it from the iOS App Store or Google Play store,” said WiPay.
“There are no bureaucratic obstacles hindering the introduction of Colour in Trinidad and Tobago.”
Asked about the launch process in Colombia, WiPay said that it encompassed securing regulatory approval and forming an agreement with a custodial bank. This aligns with the standard procedures for launching a fintech business in the country.
Colour has already been soft-launched in the US, but the overall launch will coincide with the worldwide launch of Colour, which has been tested at Miami Carnival, Atlanta Jerk Fest and various Caribbean North American-based events.
Laura Cristina Parra Echavarría, WiPay’s Colombian country manager, said the app offers a range of features such as a 100 per cent digital Visa debit card, a marketplace for essential services, free money transfers between users, the capability to receive international remittances and an innovative referral programme.
Speaking at the launch of Colour in Colombia last week, WiPay CEO, Aldwyn Wayne, underscored the company’s fundamental vision to empower individuals and drive financial inclusion. He was especially excited and proud of the promise that WiPay Colombia and Colour bring.
“WiPay is here to reshape the future, connecting Afro-Colombian communities with the global economy. Embedded within the app is WiPay’s VOLT Network. This will allow anyone with a WiPay account to send and receive money between Ghana, the United States, Colombia, and WiPay Caribbean territories within minutes, and at a fraction of legacy institution fees,” said Wayne.
Kibwe McGann, WiPay Group CMO, spoke about the company’s optimism for the Colombian market. He emphasized how this optimism was hinged on the Colour App and an aggressive referral program. People can refer the Colour App to users and earn 5000 pesos (US$1) per referral. Once a person signs up for Colour and completes the basic KYC process, they automatically receive a bank account and a virtual Colour card powered by VISA. Within the app, people can pay utilities, do peer-to-peer transfers, and accept or send remittance payments.
WiDay is an annual event hosted by WiPay, which marks the launch of the company.