The Central Bank of the Bahamas has concluded its procurement process for a national Fast Payment System (FPS) and selected Montran Corporation to design and implement the solution, with launch expected by the first quarter of 2027. The FPS is positioned as part of the Central Bank’s Payment Systems Modernization Initiative and is intended to enable real-time, continuous domestic payments settlement while interoperating with existing platforms, including the Automated Clearing House, the Bahamas Inter-bank Settlement System real time gross settlement system and the SandDollar central bank digital currency. Participation will include all commercial banks, credit unions and licensed payment service providers, with the government and the National Insurance Board as direct participants; the Central Bank will own and operate the system. A competitive request for proposal process launched in October 2025 generated 16 submissions, and the Central Bank indicated it will provide ongoing public updates in the coming months alongside a public education and awareness campaign for businesses and consumers.
Central Bank of the Bahamas 2026-03-30
Central Bank of the Bahamas selects Montran to build a fast payment system targeted for launch by the first quarter of 2027
The Central Bank of the Bahamas has selected Montran Corporation to design and implement a national Fast Payment System (FPS), expected to launch by the first quarter of 2027. The FPS, owned and operated by the Central Bank, will provide real-time domestic payments settlement interoperable with the Automated Clearing House, the Bahamas Inter-bank Settlement System and the SandDollar central bank digital currency, and will include commercial banks, credit unions, licensed payment service providers, the government and the National Insurance Board as participants.