Demerara Bank Limited (DBL) has announced a strategic partnership with Flowcatalyst Technology and Consulting Inc. (FTC Inc.), a local financial technology firm, to launch Flopay, a new payment facilitation service aimed at enhancing access to modern card payment solutions for businesses across Guyana.
Flopay is designed to address common challenges faced by merchants in the local economy, including high fees, limited competition, and lack of access to transaction data—issues particularly affecting micro, small, and medium-sized enterprises. According to market data, these challenges hinder the adoption of affordable and reliable card acceptance solutions.
Through the Visa and Mastercard payment facilitator (Payfac) model, Demerara Bank enables FTC Inc. to offer card acceptance services in Guyana. This partnership allows merchants to accept card payments without altering their existing banking relationships, while providing competitive service fees, enhanced customer support, and detailed reporting capabilities.
Key Features of Flopay
Wireless Android POS Terminals: No upfront hardware costs for merchants.
Merchant Management Software: Tools to manage transactions efficiently.
Mobile Application and Online Portal: Real-time transaction monitoring, refund management, and access to analytical dashboards.
By promoting electronic payments, Flopay aims to boost transaction security, operational efficiency, and customer convenience, aligning with broader financial inclusion goals. Increased acceptance of digital payments will help local businesses engage with consumers from more developed economies, who expect seamless payment solutions for all transaction sizes.
Demerara Bank’s partnership with FTC Inc. highlights its commitment to innovation and the development of a more inclusive financial ecosystem. The collaboration aims to empower businesses with advanced financial tools while encouraging the transition to electronic payments.
Jorge Salum, Country Manager of Visa Caribbean, emphasized the importance of digital payments for economic growth, stating, “Digital payments enable faster, safer transactions, improve transparency, and expand access to financial services.” He commended initiatives like Flopay that support inclusive economic development in Guyana.
Flopay was officially introduced at a launch event on February 13, 2026, where attendees experienced live demonstrations and gained insights into this innovative service.
