00:00What began as a government initiative to centralize digital payments is now headed toward a possible multi-billion dollar legal
00:08dispute.
00:09The dispute centers on an agreement signed on August 18, 2025, between the then Trinidad and Tobago International Finance Center
00:18Management Company and WePay.
00:20The agreement was intended to have WePay design, build and operate a centralized payment platform for government ministries and agencies.
00:28It was initially set to run for 10 years until August 2035.
00:34But on July 16 of this year, the National Payment and Innovation Company of Trinidad and Tobago, NPICTT, terminated the
00:43agreement with immediate effect.
00:44In its termination letter, NPICTT said a review uncovered serious legal and governance issues, including an absence of a procurement
00:53process and questions over the authority of the former chief executive officer who signed the agreement.
01:00NPICTT also said there was no constituted board of directors when the agreement was executed and no evidence of approval
01:08or involvement by the relevant minister or permanent secretary.
01:12It concluded that the agreement was unlawful and invalid and that WePay had no legal entitlement to payment or damages.
01:21NPICTT's letter also directed WePay to cease all activities connected to the agreement and said the termination was not subject
01:30to negotiations.
01:31WePay is strongly disputing that position.
01:34In a 61-page pre-action protocol letter dated August 12, the company's attorneys argue that NPICTT negotiated, executed and
01:43performed the agreement, accepted WePay's technology and repeatedly paid invoices.
01:48They say the relationship continued even after the new NPICTT board was appointed, including the integration of WePay's technology into
01:57the U-turn system.
01:58WePay's attorneys also point to close 17 of the agreement.
02:02That clause says NPICTT could terminate for cause only where there were unresolved material problems with the platform that remained
02:11unremedied for 30 days after formal written notice.
02:15The agreement also expressly says that termination could not be exercised for convenience or for reasons unrelated to unresolved platform
02:24issues.
02:25WePay says the termination notice did not allege any failure by the company to perform or any unresolved problem with
02:33its technology.
02:34Its attorneys therefore contend that NPICTT breached the agreement and the potential financial exposure is significant.
02:41WePay's pre-action protocol puts its present claim at approximately $4.4 billion based on the 10-year contractual fee
02:49opportunity,
02:50together with consequential losses, interest and costs.
02:54The company says it was receiving $20,000 monthly in savings fees, in addition to royalty payments arising from the
03:02use of its technology.
03:04WePay is also seeking information on revenues generated through the GovPay platform since the July 16 termination,
03:11along with extensive financial and transaction records for a proposed forensic audit.
03:16Its threatened legal action goes beyond breach of contract.
03:20WePay says it may pursue damages for malicious falsehood and unlawful interference with economic interests,
03:27as well as declarations on the validity of the agreement and injunctive relief.
03:32For now, however, court proceedings have not yet begun.
03:35NPIC's attorneys Calvin Ramkisun and associates responded on August 20th,
03:39asking for more time to formulate their response.
03:43They said WePay's pre-action document is 61 pages and cites 15 legal authorities,
03:50and they committed to providing NPIC-TT's substantive response by the close of business on September 4th.
03:56Arvashi Tuwari Rubnarain, TV6 News.
