Greenidge backs instant payments

The Central Bank of Barbados is preparing to introduce an instant payments system.

Governor Dr Kevin Greenidge expects it will help to lower the cost of financial transactions while increasing the speed with which they are conducted.

The monetary authority is partnering with the World Bank on the Barbados Payments System Modernisation Project and yesterday a related regional instant payments workshop started at the Courtney Blackman Grande Salle, Tom Adams Financial Centre, The City.