Over the past decade, Trinidad and Tobago has experienced a quiet but powerful e-commerce revolution. As consumer behaviour shifted toward digital convenience, especially post-COVID, local businesses began adopting platforms like WiPay, Fygaro, and custom e-commerce solutions. The result? More SMEs are now selling online, collecting payments digitally, and reaching customers beyond their physical location. According to data from the TT Chamber of Industry and Commerce and regional fintech reports, e-commerce adoption among SMEs in T&T grew by over 150% between 2018 and 2023. Here are some of the more commonly used platforms:
WiPay: WiPay has been a game-changer for local businesses. As a Caribbean-based fintech platform, SMEs can accept online or in-person credit card payments without a traditional merchant account. With features like payment links, website integration, and mobile top-ups, WiPay made it easier for even micro-businesses to enter the digital economy.
Fygaro: All-in-One e-commerce: Fygaro offers SMEs a more comprehensive solution, combining website building, inventory management, invoicing, and payment collection. It’s cloud-based and designed for ease of use, making it ideal for entrepreneurs with limited tech experience. Fygaro also integrates with WiPay, enabling seamless credit card transactions in T&T and across the region.
Custom Apps and Websites: Larger SMEs and startups seeking tailored experiences are investing in custom e-commerce apps and websites. These solutions provide full control over branding, customer experience, and backend operations — from product catalogs to real-time payment integrations.
Access to Credit Card Payments: One of the biggest enablers of this shift has been wider access to credit card processing. Previously, businesses needed complex bank arrangements. Now, platforms like WiPay have removed the red tape, allowing small merchants to accept Visa/Mastercard payments with minimal setup.
The flip side: Forex issues in Trinidad and Tobago have a significant impact on the growth and sustainability of e-commerce for local SMEs. While digital transformation and online sales are expanding, limited access to foreign exchange poses real challenges. Most popular e-commerce tools are billed in USD or other foreign currencies. This limits SME’s ability to scale or even maintain basic online operations.
Some solutions include: Local fintech solutions like WiPay and Paywise help circumvent some issues by offering regional payment options; Multi-currency wallets and partnerships with regional banks can help businesses reduce reliance on USD transactions; Policy-level advocacy is needed to improve forex access for digital entrepreneurs and SMEs.
As digital trust and infrastructure improve, more local businesses will go online. Whether through ready-made platforms or custom solutions, the future of commerce in T&T, and the wider region, is undoubtedly digital. Get on board!
