Unbanked to benefit from digital payments system
Article by February 25, 2021
Unbanked Barbadians will gain the opportunity to make transactions when a new national payment system is launched, Economic Affairs Minister Marsha Caddle has declared.
She said the thousands of people who don’t have bank or credit union accounts would not be left behind when the new digital system is rolled out.
In seeking to clarify remarks reported in
Barbados TODAY, she stressed that the draft digital payments legislation introduced in Parliament on Tuesday would indeed embrace unbanked people.
Speaking during debate on the
National Payment System Bill, she said: “There are so many things that are required for it to take effect and this issue of financial literacy is one of them. One of the things that we discovered that we’ve known for some time is this issue of people who are unbanked or under-banked. So we are busy creating a system of technological capabilities an