Kenyan fintech company WapiPay has received approval from the Bank of Jamaica to begin operations in the Caribbean country, marking an important step in its international expansion.
The Nairobi-based remittance startup will enter the market through a partnership with JN Money Services Limited, a Jamaican payments company. Through this partnership, WapiPay plans to support money transfers between Africa, Asia and the Caribbean. The company is targeting people sending money to family members, as well as businesses that need faster cross-border payment options.
The move is significant because Jamaica depends heavily on remittances. Money sent home by Jamaicans living abroad supports many households and also helps small businesses. Remittances are also an important source of foreign exchange for the country. Jamaica is one of the leading remittance markets in the Caribbean, with inflows making up a notable share of its economy.
WapiPay says its entry into Jamaica reflects its wider goal of building stronger financial links across the Global South. The company believes there is growing demand for payment corridors that connect emerging markets directly, instead of relying mainly on traditional routes through Europe or North America.
Founded in 2019 by twin brothers Eddie and Paul Ndichu, WapiPay first focused on payments between Africa and Asia. Its services were especially useful for traders and small businesses moving goods across those regions. The company has since expanded its ambitions beyond simple transfers.
Earlier this year, WapiPay launched a credit scoring tool in Kenya that uses regular diaspora remittance flows to help banks and lenders assess borrowers. The idea is to treat consistent money sent from abroad as a form of income, which could help more households qualify for loans.With its Jamaica launch, WapiPay is now positioning itself as more than a remittance provider. It wants to become part of the financial infrastructure linking families, traders and businesses across emerging markets.