The Central Bank of Belize has executed a contract with Montran Corporation to design and implement Belize’s Instant Payment System (IPS), supported by the World Bank, as part of a modernization of the country’s domestic payments infrastructure. Once operational, the IPS is intended to enable faster, more inclusive and more efficient payments through real-time settlement. The system is positioned as a flagship initiative under the Central Bank’s payments reform agenda, which began with the Automated Payments and Securities Settlement System (APSSS) in 2016. Planned user features include alias identifiers for payments using phone numbers or email addresses, QR codes to support fast and low-cost merchant transactions, and request-to-pay functionality for billing and collections. The project now moves into an 18-month implementation phase covering system development, testing and engagement with financial institutions and other stakeholders, alongside a public education campaign to support awareness and adoption.
Central Bank of Belize 2026-04-21
Central Bank of Belize contracts Montran to design and implement Belize’s Instant Payment System
The Central Bank of Belize has contracted Montran Corporation, with World Bank support, to design and implement a new Instant Payment System as part of its domestic payments modernization agenda. Positioned as a flagship initiative following the 2016 Automated Payments and Securities Settlement System, it will support real-time settlement and features such as alias-based payments, QR code merchant transactions and request-to-pay functionality, with an 18‑month implementation phase including testing and stakeholder engagement.