On a Tuesday gathering held at the Courtney Blackman Grand Salle as part of the internal “Unlock” launch and staff appreciation event, the Central Bank of Barbados made a landmark announcement: the Caribbean nation will usher in a new era of digital finance on June 12 with the official rollout of BiMPay, the country’s first national real-time instant payment system. The platform, which has been hailed as one of the most transformative infrastructure projects the Central Bank has delivered in modern history, will enable frictionless, immediate transactions across all participating commercial banks, credit unions and other licensed financial institutions across the island.
Deputy Central Bank Governor Michelle Doyle kicked off the event by walking attendees through the intensive two-year development journey that brought the project from concept to launch. She recalled that when work first kicked off in 2024, the team did not start with coding or tech infrastructure — they started with dialogue. Stakeholder workshops were held to map core business requirements, from defining the platform’s core features to deciding which financial entities would join the network, identifying end user needs, and designing a system that would integrate seamlessly into the daily financial lives of all Barbadians.
Development accelerated dramatically over the past six months, requiring cross-functional collaboration between internal Central Bank departments, external industry consultants, and global fintech vendor Montran, which deployed specialized development teams based in Romania and Ecuador to support the build. Doyle noted that the project effectively compressed 12 months of planned work into just six months, crediting the unwavering commitment of cross-sector teams that sacrificed weekends and personal family time to hit the pre-set launch timeline. Ten days out from the official go-live, Doyle said the platform is ready for launch thanks to the team’s assiduous work, relentless persistence and meticulous attention to detail.
Central Bank Governor Dr. Kevin Greenidge expanded on the far-reaching economic impact of BiMPay, emphasizing that the initiative represents far more than a simple technological upgrade — it is a foundational overhaul of Barbados’ national financial infrastructure. To illustrate the platform’s purpose, he used a relatable transportation analogy: just as Barbados’ national road network connects communities, residential areas and businesses to enable movement and growth, BiMPay acts as a national financial highway that connects all payment service providers, banks and credit unions into a single interconnected system, allowing funds to move between institutions instantly and seamlessly.
Greenidge stressed that the core end goal of BiMPay is to advance deep, widespread financial inclusion across every segment of Barbadian society. The platform is designed to make digital payments faster, simpler, more secure and accessible to every person, business and community across the island, including the estimated 10 to 15 percent of Barbadian adults who remain unbanked. “We want to make sure that every Barbadian, whether they have an existing bank account or not, every street vendor, every small business owner, everyone has access to the digital payment system,” he explained.
To address widespread misconceptions that the central bank would be entering commercial competition with private sector financial institutions, Greenidge clarified that BiMPay operates as a national infrastructure layer, not a commercial service. All customer-facing services are delivered through users’ existing financial providers, with the Central Bank only facilitating the underlying inter-infrastructure transaction network. “We are not competing. We are facilitating,” he emphasized.
To remove barriers for unbanked and underbanked citizens seeking to access the new system, Sagicor Bank has stepped in as the pioneer partner to streamline onboarding for new users. While existing bank customers will have their accounts automatically and instantly linked to the BiMPay mobile application, the bank has set a 30-minute benchmark for completing full registration and due diligence for first-time users without an existing bank account. Greenidge confirmed that the sector has committed to getting unregistered new users access to a fully functional BiMPay-enabled account within 30 minutes of them downloading the mobile application, cutting through traditional slow onboarding processes.
Central Bank Director of Communications Noveline Brewster then laid out the step-by-step rollout timeline leading up to and following the June 12 launch. The country’s legacy Automated Clearing House (ACH) and older Real-Time Payments (RTP) platforms will go offline at 2:00 PM on June 12 to enable a seamless midnight switchover to the new BiMPay network. A public evening launch event will be held the same day, featuring live product demonstrations, the first official public transaction processed through the platform, and the world premiere of a custom calypso track dedicated to BiMPay, performed by local artists LeadPipe & Sadis. A nationwide public education and marketing media campaign will launch the following Monday, June 15, to build public awareness and understanding of the new system.
In a key initiative to ensure no vulnerable groups are left behind during the digital transition, Brewster announced a new strategic partnership with the Barbados Association of Retired Persons (BARP). The Central Bank has signed a memorandum of understanding with BARP to distribute digital tablets and deliver specialized, hands-on in-person training to help senior citizens learn how to use the BiMPay platform safely and confidently.
Speaking to Central Bank staff in attendance, Greenidge urged employees to act as public ambassadors for BiMPay, helping guide everyday Barbadians through the digital transition. “This is important for families; it is important for all of us,” he said.