Payment methods in Barbados

Generic online and mobile bank-transfer methods (internet banking, e-banking, EFT and interbank transfers). Customers pay directly from their bank account via their bank's own online/mobile banking portal. Implementation and rails differ by country, but the consumer flow is a standard account-to-account bank transfer.

mMoney is currently the leading digital wallet application in Barbados, with approximately 20,000 consumers and 2,000 merchants registered on the platform. It enables digital payments, P2P transfers, and merchant transactions via mobile app, serving as the primary fintech wallet option ahead of BiMPay's launch.

Visa is the world's largest card network, enabling credit, debit and prepaid card payments online, in-store and at ATMs across virtually every market. In the listed countries Visa is a core internationally accepted scheme alongside local methods.

Mastercard is a leading global card network supporting credit, debit and prepaid card payments online, in-store and at ATMs worldwide. In the listed countries it is a core internationally accepted scheme.

BiMPay is the Central Bank of Barbados's national instant payment system, built in partnership with Montran and launching on June 12, 2026. It will enable all Barbadians — including those without bank accounts — to send and receive money in under 10 seconds, 24/7/365, regardless of which financial institution they use. BiMPay is fully interoperable across all participating banks and is expected to significantly accelerate the country's shift away from cash.

Payment Spayce is a Barbadian fintech company that provides digital payment solutions for merchants and consumers. It has positioned itself to benefit from Barbados's improving regulatory environment following the FATF grey list removal and the upcoming BiMPay launch, offering card-linked payment services and digital financial products.