…as customers unable to access funds
Regulatory officials are urging affected persons to file official reports with the Guyana Police Force or retain legal representation after Caripay Inc, a financial company that was offering payment services through the Be! Payment (Be!) platform, has now apparently closed operations, leaving customers without any refunds.
In February 2025, Be! Payment, which had described itself as a Bank of Guyana-licenced payment service provider, had rolled out a service that saw dozens of automated teller machines (ATMs) being set up across the country, allowing holders of a specially-issued card to have a convenient way of accessing cash.
It was reported at the time that the ATMs will be placed in heavily-trafficked locations such as supermarkets, malls, gas stations, hospitals, and police stations. Be! was responsible for replenishing the cash in the ATMs, which were compatible with cards belonging to international networks of Amex, Visa, MasterCard, PIX and UPI.
However, customers are now complaining that they cannot access their money deposited into their account with Be! Payment, which operated under Caripay Inc.
Guyana Times reached out to several senior government officials, and at least one banking official, who advised that the Bank of Guyana be contacted on the issue. Efforts by this newspaper to get a comment from the Governor of the Bank of Guyana, Dr Gobind Ganga, who is currently overseas alongside Senior Minister with Responsibility for Finance Dr Ashni Singh on official business, were futile.
Nevertheless, these officials have advised that individuals affected by the discontinuation of services by Caripay Inc should file formal police reports to initiate an investigation into the matter.
Not issuing any refunds
Meanwhile, Demerara Bank Limited has since distanced itself from the controversy surrounding the issue, informing customers that the bank is not issuing refunds on behalf of the company.
This publication understands that the principal of Caripay had an account with Demerara Bank, and persons have been turning up in hopes of recovering their money deposited into Be! Payment.
In a notice on Wednesday, Demerara Bank clarified that those ties with Caripay have been terminated.
“Demerara Bank Limited is not issuing any refunds on behalf of, or in connection with, Caripay Inc., and has received no instructions or directives from Caripay Inc or any regulatory authority to do so. Further, the Bank confirms that its relationship with Caripay Inc. was terminated in January 2026,” the bank noted.
It went on to add, however, “That relationship was strictly between Caripay Inc and Demerara Bank Limited, and did not extend to, nor create any relationship with, customers or users of Caripay Inc’s services… Demerara Bank Limited remains committed to maintaining transparency and to ensuring that accurate information is provided to the public.”
To this end, the Bank is urging persons to contact Caripay Inc directly in relation to any queries or requests for refunds.
Bbased on information reaching this newspaper, no one has been able to contact the company or its representatives. It is unclear at this time how many customers are affected by the discontinuation of the payment service and the amount of money lost by customers. When this newspaper contacted the company’s public relations officer, she informed that she is no longer employed with Caripay Inc.
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