(NAIROBI, KENYA) – Kenyan fintech WapiPay is partnering with Jamaican remittance company JN Money Services to expand cross border payment services between Africa and Jamaica, targeting faster and cheaper transfers as the two companies seek to grow transaction volumes.
Under the partnership, which has been approved by the Bank of Jamaica, JN Money will act as WapiPay’s exclusive local payout partner in Jamaica.
WapiPay customers will be able to send money to Jamaica through its application for cash collection at more than 90 JN Money locations or direct deposits into recipients’ local bank accounts.
The partnership is expected to be fully rolled out by December 2026. The deal gives WapiPay access to JN Money’s established Jamaican payment infrastructure while giving JN Money access to WapiPay’s network, which the companies say spans more than 100 countries.
JN Money Services general manager Horace Hines said the partnership could increase the volume of transactions processed through its existing network while giving the Jamaican company access to additional international markets.
“If we look at the market in Jamaica, valued at $3 billion and with just about nine to 10 million transactions per year, it is obvious that WapiPay will be able to generate some transactions through their network for us to deliver here in Jamaica,” Hines said.
He said WapiPay’s expansion into other markets, including Canada, could also create additional remittance flows into Jamaica from Jamaicans living abroad.
For WapiPay, the deal forms part of its expansion beyond traditional remittance corridors. The fintech has positioned Jamaica as a potential link between African and Caribbean markets, building on payment corridors it has established in Europe and Asia.
WapiPay co founder Paul Ndichu said the company’s network could eventually support more than remittances by connecting businesses and individuals with opportunities across different markets.
“Seventy per cent of Africans are below the age of 22. This points to the potential for increased cross border economic activity as the continent’s young population expands its involvement in international business,” Ndichu said.
The companies are also competing on the cost and speed of international transfers, with WapiPay co founder Edward Ndichu saying the fintech is targeting transaction completion in less than 30 seconds and zero transfer fees to customers, with foreign exchange costs remaining a consideration.
Cross border payments involving multiple currencies and jurisdictions can be costly because transactions often pass through several financial institutions and payment systems. WapiPay says its technology is designed to simplify that process and reduce transaction costs.
The partnership comes as Kenya seeks to deepen economic ties with Jamaica following the opening of its first resident High Commission in Kingston in July.
Kenya’s Foreign Ministry has identified trade, investment, economic cooperation and people to people links as areas for expansion, while also describing Jamaica as a potential gateway to the wider Caribbean Community (CARICOM) market.
Kenya’s High Commissioner to Jamaica Mwenda Karisa said fintech was one of several areas where the two countries could develop practical commercial partnerships.
The financial services deal could therefore provide a platform for expanding payment links between the two regions as WapiPay builds its international network and JN Money seeks to increase the use of its Jamaican payout infrastructure.