The Central Bank of Trinidad and Tobago marked the 100th meeting of the Payments System Council by setting out a forward agenda for the national payments ecosystem and spotlighting planned legislative reform. Governor Larry Howai framed the 2035 end-state as a digital, inclusive, modern, secure and interoperable payments system, with a larger role for fintechs and non-bank payment service providers. The Central Bank linked this direction to a roadmap of milestones for 2026 to 2030, including advancing the Payment Systems and Services (PSS) Bill, operationalising UPI-based instant payments, completing the rollout of the CARICOM Payment and Settlement System (CAPSS), and introducing regulated stable coin issuance and pilot programmes for asset tokenisation. A presentation on the proposed reform set out that the PSS Bill and accompanying regulations would unify and consolidate the existing fragmented legal framework into a single comprehensive law and provide the Central Bank with supervisory powers to promote the safety, soundness and efficiency of the national payments system, contributing to financial stability.
Central Bank of Trinidad & Tobago 2025-12-03
Central Bank of Trinidad and Tobago outlines 2035 payments system vision and plans to consolidate regulation through a Payment Systems and Services Bill
At the 100th Payments System Council meeting, the Central Bank of Trinidad and Tobago emphasized legislative reform for the national payments ecosystem. Governor Larry Howai described a 2035 vision for a digital, inclusive, and secure payments system with increased roles for fintechs and non-bank providers. Key milestones for 2026-2030 include advancing the Payment Systems and Services Bill, operationalizing UPI-based instant payments, and introducing regulated stable coin issuance.