The Central Bank of Barbados announced it will officially unveil its national instant payment system (IPS) at a launch event on 12 August 2025, including the system’s name and logo and plans for a public education programme ahead of implementation. The IPS is scheduled to go live in 2026. Once launched, the IPS is intended to enable individuals, businesses and Government to send and receive payments within 10 seconds, with recipients able to access funds immediately. The system is designed to be fully interoperable, allowing transactions across different financial institutions rather than being limited to users at the same bank, and is positioned as part of the Bank’s wider payments modernisation work. The launch event will include a discussion involving Governor Dr. Kevin Greenidge, Deputy Governor Michelle Doyle, the President of The Barbados Bankers Association, and a World Bank senior financial sector specialist.
Central Bank of Barbados 2025-08-07
Central Bank of Barbados to unveil branding and public education plan for national instant payment system
The Central Bank of Barbados will unveil its national instant payment system (IPS) on 12 August 2025, with plans for a public education programme before its 2026 launch. The IPS will enable payments within 10 seconds and is fully interoperable across financial institutions. The launch event will feature discussions with key financial leaders, including Governor Dr. Kevin Greenidge.