Kenyan fintech firm Wapi Pay is strengthening its push into the Caribbean payments market, riding on record remittance inflows into Jamaica and growing demand for faster cross-border transactions.
Remittance inflows to Jamaica reached an all-time high of $3.49 billion in 2025, marking a 3.8% increase from the $3.36 billion recorded in 2024, according to company insights. The flows remain one of the country’s largest sources of foreign exchange, supporting millions of households with essential needs such as healthcare, education, and daily expenses.
The growth comes despite disruptions caused by Hurricane Melissa in late 2025, which temporarily slowed inflows. Transfers rebounded sharply by December, rising 13.6% year-on-year, highlighting the resilience of diaspora-driven financial support to the island.
Wapi Pay said its expansion aligns with regulatory approvals secured following due diligence processes by the Bank of Jamaica, ensuring compliance with global Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT) standards.
The company is positioning itself as a key bridge between Africa and the Caribbean, enabling faster, more secure, and more affordable cross-border payments. Its network spans multiple Caribbean markets including Antigua and Barbuda, Barbados, Dominica, Guyana, Haiti, Trinidad and Tobago, and Turks and Caicos Islands, among others.
Wapi Pay also leverages strong remittance corridors from the United Kingdom, United States, and Canada into the Caribbean, tapping into diaspora communities that continue to drive transaction volumes.
The company said it remains committed to maintaining high regulatory standards as it expands its global footprint, with a focus on connecting emerging markets across what it describes as the “Global South.”