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PAYWISE LTD IN T&T IS AUTHORIZED TO ISSUE E-MONEY

Trinidad & Tobago Ag. Prime Minister and Minister of Finance Colm Imbert


August 23, 2022 | By Colin O. Jarrett |

The Central Bank of Trinidad and Tobago has issued a provisional registration to PayWise Limited as an electronic money (e-money) issuer.

The provisional registration authorizes Paywise to issue e-money in Trinidad and Tobago from September 1, 2022, becoming the first entity, apart from banks and non-bank financial institutions, so authorized.  The PayWise will also be allowed to enlist new customers.

PayWise is registered as a payment service provider since 2019 by CBTT.

E-money can be broadly defined as an electronic store of monetary value on a technological device that may be used for making payments to entities other than the e-money issuer.  E-money can be used for payment transactions with or without bank accounts.

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