Kenyan fintech firm WapiPay has secured regulatory approval to commence operations in Jamaica, marking its entry into the Caribbean and a significant step in its global expansion strategy. The approval granted by the Bank of Jamaica will see the Nairobi based company partner with JN Money Services Limited to facilitate cross border transactions linking Africa, Asia, and the Caribbean.
The move positions WapiPay within a highly competitive remittance driven financial ecosystem, particularly in regions where inflows from diaspora communities play a central role in economic stability. Jamaica, one of the most remittance dependent economies globally, records inflows that account for about 15 per cent of its Gross Domestic Product, with major contributions from the United States, the United Kingdom, and Canada.
Industry analysts note that the company’s entry signals a growing shift towards South South financial integration, as emerging market players expand beyond traditional Western dominated corridors.
Co founded in 2019 by Paul Ndichu and his twin brother Eddie Ndichu, WapiPay initially built its model around facilitating payments between Africa and Asia, focusing on traders and small businesses engaged in cross border commerce. Speaking on the expansion, Paul Ndichu said the company’s presence in Jamaica reflects its commitment to building a resilient financial infrastructure that connects markets across the Global South, while maintaining strong regulatory compliance.
In recent months, the firm has broadened its offerings beyond payments, including the launch of a credit scoring solution designed to help financial institutions leverage diaspora remittance flows as a basis for lending.
This approach is particularly relevant in markets like Kenya, where remittance inflows exceeded five billion dollars in 2025, yet are largely treated as consumption support rather than credit assets. With its Caribbean entry, WapiPay is now positioning itself at the intersection of remittances, trade finance, and digital financial services, as it seeks to unlock new economic value across emerging markets.