Meaning
A man — usually older and well-off — who financially maintains a younger woman in exchange for her company; a sugar daddy. The woman he keeps is a 'boopsie', and to 'boops' someone is to be kept or funded by them. A frank, familiar figure in Jamaican talk of transactional romance, the boops is valued for his money rather than his heart, and the word, made famous by song, names the whole arrangement plainly, without much sentiment, in a culture that openly acknowledges such keeping.
Examples
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She find a boops fi pay har rent.
She found a sugar daddy to pay her rent.
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Him a nuh har man, him a har boops.
He isn't her boyfriend, he's her sugar daddy.
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She a live off har boopsie money.
She's living off her kept-woman money.
Origin
A Jamaican coinage of uncertain origin, popularised by a 1980s dancehall hit about the 'boops' and his 'boopsie'.
How it’s used
Half-teasing, half-critical in tone. 'Boops' is the man who pays; 'boopsie' is the woman he keeps.