Why Trust Is the New Payments Differentiator | Payment Spayce | Sagicor Bank | The Paytech Show #85

In this conversation, Debra LePage and Ramon Caracas from Payment Spayce and additionally George Thomas from Sagicor Bank outline how the acquisition of a trust company fundamentally reshapes its position in the market. 

While many payment service providers rely solely on sponsoring banks to hold and safeguard merchant funds, Payment Spayce now operates with its own trust structure — allowing customer funds to be segregated within a dedicated trust entity.

This structural shift elevates the proposition. For end merchants, it offers additional security and clarity around fund protection. For larger enterprises and fintechs operating in regulated markets, it provides a higher level of comfort in a world where safeguarding requirements are tightening.

In Canada, for example, the Retail Payment Activities Act (RPAA) now requires PSPs, fintechs, and money services businesses holding end-user funds to formally safeguard those balances. While TPS83’s trust acquisition was not originally driven by that legislation, it has positioned the company advantageously as new regulatory frameworks come into force.

What makes the model more distinctive is the integration of technology. Trust companies traditionally focus on wealth management and custody. They are not typically associated with SOC 1 Type 2 compliance, daily end-user balance tracking, automated accounting reconciliation, and real-time record keeping. Payment Spayce’s system embeds these capabilities directly into the trust structure, removing manual processes and introducing operational scalability.

Beyond safeguarding, Payment Spayce are preparing further innovations. A new 2.0 gateway is set to launch, built around direct client feedback — effectively a consolidated “wish list” of features requested by existing partners. The focus remains consistent: better onboarding, stronger compliance, simplified processes, and enhanced customer experience without deterring growth.

Growth itself has been deliberate. In Barbados, Payment Spayce reached 30,000 clients within two years — a pace that would overwhelm many organisations. Instead of scaling recklessly, the company chose to moderate onboarding to protect service quality. The prime objective remains elegant, secure, and seamless client experience.

Looking ahead, expansion across the wider Sagicor geographic footprint — from Canada through Central America and the Caribbean — appears likely. Product development will continue to be client-led, shaped by surveys and direct feedback rather than internal speculation.

In a payments industry defined by speed and innovation, Payment Spayce’s strategy centres on something more foundational: trust, structure, and thoughtful growth. And in an environment of rising regulatory scrutiny, that may prove to be the strongest differentiator of all.