BiMPay is the Central Bank of Barbados’ new national instant payment system, which replaces the automated clearing house (ACH) and real-time processing (RTP) system as the underlying infrastructure, or rail, that facilitates interbank transactions. Money sent using BiMPay will reach the recipient within 10 seconds regardless of the time of day or day of the year, and they will have immediate access to those funds.
Find out more about What BiMPay Is and How You’ll Use It
In addition to providing the payment rail, the Bank has also developed an accompanying BiMPay e-wallet. Here’s what you need to know.