Aldwyn Wayne speaking at May’s Digital Payments Seminar. Photo by Mark Lyndersay.

According to the Jamaica Observer, Republic Bank has bought a 19.99 percent stake in Nobis BaaS, a subsidiary of WiPay Holdings.

The report quotes Group CEO Alwdyn Wayne on the investment…

“WiPay is committed to working with organisations to bring unprecedented levels of financial inclusion and customer-centric innovation to Jamaica and the wider Caribbean. Our technology brings added ease, convenience, and security to payments on a wider scale, for both public and private sector organisations.“

Announcing the news on Facebook, Wayne wrote:”Yooo, so I guess we’re now part of a bank.”