Demerara Bank Limited (DBL) has announced a strategic partnership with Flowcatalyst Technology and Consulting Inc. (FTC Inc.), a Guyana-based financial technology company, to support the launch of Floypay, a new payment facilitation service designed to expand access to modern card payment solutions for businesses across Guyana.
As an innovator in the Payments space, Floypay aims to reduce challenges faced by merchants in the local economy. Market data indicates challenges in accessing affordable, reliable, and well-supported card acceptance solutions along with high fees, limited competition, and minimal access to transaction data and business insights particularly among micro, small, and medium-sized enterprises.
Under the Visa and Mastercard payment facilitator (Payfac) model, Demerara Bank enables FTC Inc. to provide card acceptance services in Guyana. Through this partnership, merchants can begin accepting card payments without changing their existing banking relationships, while benefiting from competitive service fees, improved customer support, and enhanced reporting capabilities.
The Floypay solution includes modern wireless Android POS terminals with no upfront hardware cost, merchant management software, and access to a mobile application and online portal. These tools allow merchants to view transactions in real time, manage refunds and chargebacks, and access analytical dashboards that provide insights into sales trends and business performance.
By reducing reliance on cash, Floypay aims to improve transaction security, operational efficiency, and customer convenience, while supporting broader financial inclusion objectives. Increased electronic payment acceptance also positions local businesses to participate more fully in Guyana’s rapidly evolving economy, serving cardholders from more advanced economies who have come to expect payment solutions from the largest to the smallest transaction being performed.
Demerara Bank’s strategic partnership with FTC Inc. reflects its ongoing commitment to innovation, digital payments, and the development of a more inclusive financial ecosystem. Through this collaboration, DBL continues to support initiatives that encourage electronic payments and empower businesses with modern financial tools.
As part of this collaboration, major card brand Visa International has underscored the importance of digital payments in supporting secure, inclusive, and sustainable economic growth: “Visa provides secure infrastructure, global standards, and proven technologies that help digital payments work safely and reliably every day. We work alongside banks like Demerara Bank to expand acceptance, build trust, and ensure seamless payment experience for both merchants and consumers,” said Jorge Salum, Country Manager Visa Caribbean. “Digital payments play a critical role in economic development. They enable faster, safer transactions, improve transparency, and expand access to financial services. Guyana has made impressive progress in recent years, and initiatives like the one led by Demerara Bank help ensure that growth is inclusive and sustainable. ”
Floypay was officially introduced at a launch event on 13 February 2026, where attendees had the opportunity to experience live demonstrations and learn more about this innovative service offering. [Demerara Bank Press Release]
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