Barbados is taking a major step toward inclusive digital financial transformation, as the Central Bank of Barbados and the Barbados Association of Retired Persons (BARP) have formalized a new collaborative partnership focused on empowering the island nation’s senior population. The newly signed Memorandum of Understanding, finalized this week, paves the way for a targeted digital literacy initiative designed to give older adults the practical skills they need to engage confidently with modern digital financial systems.
At the core of the training program is preparation for BiMPay, Barbados’ upcoming national instant payment system scheduled to launch to the public on June 12. Beyond instruction on using this new platform, the program will also cover fundamental skills for navigating a range of essential digital financial tools that are increasingly central to daily commerce and personal finance management. The multi-pronged initiative has four key goals: to enable seniors to complete routine financial transactions independently via BiMPay, to deliver immersive, hands-on training using dedicated digital devices, to narrow the intergenerational digital divide, and to expand meaningful financial inclusion for older Barbadians. The partnership also reinforces institutional collaboration between the Central Bank and BARP, advancing national digital modernization targets while driving early awareness and adoption of the new BiMPay system.
Dr. Kevin Greenidge, Governor of the Central Bank of Barbados, emphasized that inclusive growth is a non-negotiable foundation of the country’s digital transition. “Digital transformation must work for everyone. As we introduce systems like BiMPay, we must ensure that our seniors are not left behind, but are instead equipped with the knowledge and confidence to benefit fully from these advancements,” Greenidge stated. “This partnership with BARP allows us to take a practical, hands-on approach to bridging that gap and strengthening financial inclusion.”
Under the terms of the agreement, the Central Bank will take the lead on program implementation. The institution will sponsor and supply tablets to enable hands-on practice for participants, develop a comprehensive, age-adjusted BiMPay training curriculum customized to meet the needs of older learners, and deploy experienced technical staff and dedicated BiMPay specialists to lead interactive training sessions across the program.