Summary
- WiPay Scan2Pay QR solution
- PayWise QR + LINX integration
- 86% MSMEs don't accept digital
- RTGS safe-tt large value system
- Cashless push 2024/25 budget
Banking landscape
Central Bank
- Name: Central Bank of Trinidad and Tobago (CBTT)
- Website: https://www.central-bank.org.tt/
- Role: Monetary policy, payment oversight
Major Banks (2024)
| Rank |
Bank Name |
Type |
Digital Platform |
| 1 |
Republic Bank |
Local |
RepublicOnline |
| 2 |
First Citizens |
State |
FC Mobile |
| 3 |
RBC Royal Bank |
International |
RBC App |
| 4 |
Scotiabank TT |
International |
Scotia Mobile |
| 5 |
JMMB Bank |
Regional |
JMMB App |
Market Structure
- WiPay: Leading QR provider
- PayWise: E-money issuer
- LINX: Card network
- 86% MSMEs: No digital acceptance
Payment infrastructure
National Payment Systems
| System |
Operator |
Type |
Status |
| RTGS safe-tt |
CBTT |
Large value |
$500K+ |
| Transach (ACH) |
Banks |
Clearing |
Active |
| LINX |
Banks |
Card network |
Active |
| E-money |
Various |
Mobile |
Growing |
RTGS System (safe-tt)
- Central Bank operated
- Large value ($500,000+)
- Time critical payments
- Real-time settlement
E-Money Issuers
- PayWise
- Pesh Money
- ePay
- Growing sector
QR code standards
WiPay Scan2Pay
| Attribute |
Value |
| Provider |
WiPay Caribbean |
| Feature |
Contactless QR |
| Method |
Scan and pay |
| Cards |
Debit/Credit |
Scan2Pay Features
- Customer scans QR code
- Enter amount on mobile
- Pay with debit/credit card
- Contactless transaction
- Point of sale solution
PayWise QR
| Attribute |
Value |
| Provider |
PayWise |
| Feature |
QR + LINX |
| Options |
QR, ePOS, machine |
| Integration |
Multi-channel |
JMMB QR
| Attribute |
Value |
| Provider |
JMMB |
| Feature |
Scan-to-Pay |
| Device |
Smartphone/tablet |
| Access |
Data required |
Mobile payment apps
| App |
Provider |
QR |
Features |
| WiPay |
WiPay |
Yes |
Scan2Pay |
| PayWise |
PayWise |
Yes |
Multi-channel |
| JMMB |
JMMB |
Yes |
Scan-to-Pay |
| Bank Apps |
Various |
Limited |
Banking |
Adoption Challenges
- 86% MSMEs no digital payments
- 77% MSMEs no business account
- 70% no digital payment methods
- 56% find mobile apps challenging
Government Push (2024/25)
- Cashless society goal
- Minister Imbert's budget speech
- Fraud/theft minimization
- Unbanked access
- Benefit acknowledgement
Schemes
Sources
Full country report
TT-trinidad-and-tobago.md