Wipay has come a long way since 2016 and is setting up to have one of the most impactful Widay’s to date, which will effectively change the financial industry across the entire Caribbean. How you might be wondering? Well…Wipay may officially announcing on Nov 18/2020, that they are officially becoming the Caribbeans First Neo Bank!
First, let’s answer this particular question before we get started.
What Is A Neo Bank?
A Neo Bank is a Fintech bank that operates digitally and can do the vast majority of things a traditional bank can do without having physical branches.
2 weeks ago, I conducted a live stream with Aldwyn Wayne (Wipay CEO), Gerald Hadeed (Wipay Chairman) and Keshia Halls-Wayne (CCO) and what was supposed to be the official announcement of Widay 2020, turned into a spoiler alert for what is to come for Widay and Wipay’s new direction.
During the live, Aldwyn spoke about a few things in the works and the more he spoke, the more I started to see some resemblances to popular Neo Banks like Nubank, Monzo, Revolut, N26, with some Paypal features and more.
It seems like Wipay scoured the world for some of the top features and services and pulled them into Wipay to help truly push their vision & mission for financial inclusion across the Caribbean.
The other thing that leads me to believe they will be making this announcement of becoming a Neo bank is their newfound partnership with Mastercard. Mastercard is making a heavy push into the Latin American & Caribbean markets and the timing couldn’t be better. Wipay is currently working with a consultancy team that worked with Nubank and based on Nubanks success, we can be pretty optimistic about what this means for our region.
So let’s breakdown what those new features Aldwyn announced on my live with him shall we?
Key Wipay Features
- 1st Payment Gateway in the Caribbean To Integrate With Wix
- WiTrade – New Day trading platform
- Wipay Neo Savings Accounts
- WiLoan
- Partnership With 1 of The largest money transfer companies
- Wipay Me (Personal Pay Link)
Now, I won’t be diving into all of the details but trust and believe that everything will be revealed on November 18th for Widay.
So what am I excited for?
We will finally be getting the long-awaited and overdue Rebel Cards, Wipay has finally dealt with the hurdles that came up after last year’s launch that have delayed the cards to this point. Mr. Wayne assures us that we will be getting our hands on these cards this year.
The Partnership with 1 of the largest money transfer companies is a very interesting one because now when folks are looking to send money using this companies network from around the world to T&T using their app, you will be able to receive those monies directly into your Wipay account. The name of this company and partnership details will be revealed on Widay.
The Wipay Neo Account accounts are HUGE news. They have some new partnerships that will be revealed on Widay but they now have the capabilities to open a savings account within Wipay, that tie in all of their other services. These accounts will be 100% digital and will work beautifully with their other services.
WiLoan is a game-changer. Millennials and even more importantly, Entrepreneurs get snubbed by the banks the most. It has made getting business loans hard when Millenials for the most part do not have what is required by way of assets to satisfy the bank’s needs for collateral. The new WiLoan services will track the monies you process through Wipay & calculate how much money you earn and offer you loans based on those calculations. That’s major!!!
Finally…All my Wix users can rejoice as Wipay will be the first Caribbean Payment processor listed on Wix as a payment gateway.
Wipay will also be launching their new day trading platform and they have ALSO added a very well known figure in the business community who with a WEALTH of knowledge in the stock market and they will be announcing the new addition to their team come Widay.
Lastly, Wipay Me is akin to the Paypal Me service. You will now be able to have your own personal payment link and QR code to give out to people anywhere in the world so that people can send you money, without needing to send an invoice.
These are just some of the things that I was able to extract from Aldwyn Wayne during our live. He assures me there is much more to talk about and will be breaking down in detail everything that was mentioned above.
What I want you to do ahead of the Widay event, go and check out on Google what a Neo Bank is and get familiar.
Even though Aldwyn denied it during our live session, I think the biggest announcement that will happen will possibly be the announcement that Wipay is in fact going to become the Caribbeans First-Ever Neo Bank.
The Wipay Neo Bank…very interesting times ahead.
To learn more about Wipay and their upcoming event, visit their website (Wipay Caribbean).