WapiPay has secured Bank of Jamaica approval to launch via JN Money Services, targeting Jamaica’s $2.5B remittance and trade payments market.
Wapipay, a Nairobi-based cross-border payments company, is expanding into Jamaica after getting approval from the Bank of Jamaica.
Regulatory approval means the company is allowed to operate under local rules, including licensing and oversight for money transfer services. In practice, it is the green light WapiPay needs to start offering transfers in the country.
WapiPay will launch through a partnership with JN Money Services Limited (JNMS), a Jamaican payments services provider. The companies plan to support transfers between Africa, Asia, and the Caribbean.
The product focus is remittances, which are person-to-person international money transfers, often sent by diaspora workers to family back home. WapiPay also plans to serve trade-linked payments, which are cross-border transfers tied to importing and exporting goods.
Jamaica is one of the world’s most remittance-dependent economies, and the market is estimated at about $2.5 billion. That makes it attractive for fintechs that can move money faster, with clearer pricing, and with better payout options.
For African fintech operators, this is also a signal that expansion paths are widening beyond the usual Africa to Europe and Africa to North America corridors. If WapiPay can meet compliance requirements and build reliable local payout rails, it could open a new route for Caribbean to Africa flows, and for SMEs that trade across these regions.
Source attribution Techcabal (April 29, 2026)
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