About The Penny Pinch App

Learn about who and why of Penny Pinch.

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Written by Support
Updated over a week ago

Penny Pinch Inc. (Penny Pinch) is the only licensed digital wallet company in Saint Lucia (Class A under the Money Services Business Act) and has been operating since 2019. Penny Pinch is regulated by the Financial Services Regulatory Authority (FSRA) of Saint Lucia.

Penny Pinch’s mobile application, which is available on Google Play and the Apple App Store, enables consumers to access a variety of financial services by creating a verified mobile account.

Once a customer's account has been verified, they can pre-fund it via

  • Debit/Credit Card

  • BankTransfer

  • Salary Transfers

  • Loan Disbursements

  • Deposit Cash

  • Receive MoneyGram & Western Union Transfers

A customer can then use their funds to do the following:

Business Payments: Users of the Penny Pinch app make payments to businesses that are registered on the Penny Pinch network. Customers can pay in-store by scanning a Contactless QR Code or remotely using the mobile app's Pay capability.

Payments are processed instantly and tend to be a more secure and trustworthy method of payment. Businesses can register online and create a profile for their business.

Mobile Airtime: Customers can top up their smartphones with data directly from the app. We have integrated with both Digicel and Flow which are our region's telecom operators.

Bank Transfers: Customers can make requests to transfer funds by linking a bank account to the app.

Loyalty Solutions: Merchants can engage customers for free through cashback rewards via 6 unique configurations. Customers can enjoy a selection of offers that are redeemable when transacting on Penny Pinch.

Customer Analytics: We offer customers a range of analytics on their income and expenses

including categorization of transactions and making use of simple charts to present information.

Bill Payments: Penny Pinch customers can link 30+ billers through our partnership with SurePay and make payments towards their balances.

Money Transfer Services: Customers can send and receive funds via username, email or QR code.

We have also partnered with MoneyGram and Western Union to digitize their solutions so customers can skip visiting physical locations and get their transfers directly to their app.

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