The Central Bank of Barbados published an interview with Deputy Governor Michelle Doyle outlining how BiMPay, Barbados’ national instant payment system, will operate ahead of its planned March 31 go live. Doyle positioned BiMPay as public payments infrastructure intended to support a level playing field and innovation in the payments ecosystem, referencing the Bank’s role under the National Payment System Act and the Central Bank Act. The Bank has been working with Barbados’ commercial banks since before the system’s public announcement in August 2025, using a technical user group, a business user group focused on payment service provider operations teams, and a steering committee overseeing activities. Key user-facing features highlighted include instant settlement with notifications, 24/7 365 availability, interoperability across participants, and the ability to initiate payments using proxies such as a mobile phone number, email address, or QR code; the interview also addressed public questions on how BiMPay differs from existing services, security and data protection, and whether it will replace cash.
Central Bank of Barbados 2026-02-15
Central Bank of Barbados sets out March 31 go live plans and core features for BiMPay national instant payments system
The Central Bank of Barbados detailed the operation of BiMPay, the national instant payment system set to launch on March 31, emphasizing its role in fostering innovation and a level playing field in payments. Key features include instant settlement, 24/7 availability, interoperability, and proxy-based payment initiation, with ongoing collaboration with commercial banks and user groups.