In a public update on its payments modernisation programme, the Central Bank of Trinidad and Tobago highlighted three strands of reform: direct regulation of digital payment providers, including e-money issuers offering mobile wallet services, new Guidelines for Basic Banking Accounts introduced with the Bankers’ Association of Trinidad and Tobago and commercial banks, and a draft Payment Systems and Services Bill with supporting regulations published for consultation. Together, the measures are intended to strengthen oversight of digital financial services and widen access to payment and banking services. The Bank said regulation of e-money issuers is designed to increase accountability, oversight and consumer confidence in digital financial services. The basic account guidelines aim to make entry to the financial system easier, while the draft legislation represents the next stage of the Bank’s payments reform agenda and is framed around stronger consumer protection, faster and more secure transactions, broader payment options and easier business operations, including for small and medium-sized enterprises. Consultation documents were released on March 16, 2026, followed by sessions in Trinidad on May 8 and May 20 and in Tobago on May 26. Feedback has been broadly positive, with questions focusing on the regulatory sandbox, fees and penalties, complaints resolution and the restricted use of TTD where competitors can use other currencies such as USD. The Central Bank is considering the feedback as it makes amendments to the draft Bill and Regulations.
Central Bank of Trinidad & Tobago2026-06-02
Central Bank of Trinidad and Tobago advances payments reform through EMI regulation and consultation on draft payments bill
The Central Bank of Trinidad and Tobago reported progress on its payments modernisation programme, covering new regulation of digital payment providers, Guidelines for Basic Banking Accounts, and a draft Payment Systems and Services Bill with supporting regulations issued for consultation. The measures aim to strengthen oversight of digital financial services, enhance consumer protection and confidence, and expand access to payment and banking services, including for small and medium-sized enterprises. The Central Bank is reviewing stakeholder feedback to amend the draft Bill and regulations.