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Payment Service Providers

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Payment Services

Recently the payments landscape has been impacted by the emergence of fintech entities and other non-bank payment service providers. Some PSPs provide mainly bill payment services to utility companies that clear and settle their transactions via private commercial banks. PSPs have now expanded their services beyond bill payments. Utility companies and commercial banks also provide bill payment services via mobile applications and online payment solutions. New players are also emerging on the payments landscape including e-money issuers (EMIs).

Payment services include:

  1. Provision of services functional to the transfer of money
  2. Issuing or acquisition of payment instruments
  3. Provision of services related to the acceptance, clearance and settlement of claims generated from the use of payment instruments
  4. Issuing of e-money accounts
  5. Provision of electronic wallet services
  6. Provision of remittance services

Apply to become a Payment Service Provider

According to the Central Bank’s powers under section 36(cc) of the Central Bank Act Chap. 79:02 Payment Service Providers (“PSPs”) are required to apply for registration to provide payment services.

Registration Criteria

Discover the PSP Registration Process

The Payment Systems Guideline No. 3 – Operation of Payment Services Provider (November 2012) outlines the requirements of registration as a PSP in sections 3.1 to 3.6.

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Fintech Licensing

Registration of a PSP

A PSP must apply to the Central Bank using the prescribed Application Letter and PSP/EMI Form. The following documentation should be submitted along with the Application:

  • A statement of the name and registered address of the PSP;
  • A certified copy of the Articles of Incorporation/Continuance, Bye-laws or any other constituent document of the PSP;
  • The identification of shareholders of the PSP who own 20 per cent and more of its paid-up capital;
  • The name, address, nationality, experience and other relevant information pertaining to each director and senior management officer of the PSP;
  • The latest audited Financial Statements of the PSP and the policies for risk management and internal controls;
  • A statement outlining the organisational structure of the PSP;
  • The Rules and Procedures governing the operations of the PSP;
  • Such additional information as may be required by the Central Bank.

For payment related entities, including Payment Service Provider applications – submit documents using the Central Bank’s

GoAnywhere Portal

Apply to become an E-Money Issuer

Section 17 (4) of the Financial Institutions Act, 2008 (FIA) provides for other categories of persons other than licensed financial institutions (licensees) to issue electronic money (e- money). The Central Bank is of the view that the domestic payments system will benefit from the introduction of certain new category of persons which will aid in:

  • Fostering competition and encouraging greater use and efficiency of electronic payments and e-commerce;
  • Reducing the use of cash and cheque payments; and
  • Promoting greater financial inclusion.

Consequently, the E-money Issuer Order, 2020 that came into effect on August 4, 2020, followed by the E-money Issuer (Amendment) Order 2023, allows for a category of persons other than licensees, to be eligible to issue e-money.

Guidelines for E-Money Issuance Approval: Key Steps and Requirements

Entities seeking approval to issue e-money shall satisfy all requirements of the Order which includes that:

An EMI will be required to be registered separately as a Payment Service Provider, pursuant to the Central Bank Act, to conduct payment service activities.

  • An application to be a Payment Service Provider and EMI may be done simultaneously. See PSP/ EMI Form.
  • An EMI shall apply for registration with the FIUTT within five business days after being granted provisional registration by the Bank to operate as an EMI. FIUTT Registration Forms
  • The name, address, nationality, experience and other relevant information pertaining to each director and senior management officer of the PSP;
  • An EMI shall pay such fees in relation to an application for permission and renewal of permission to issue e-money, as set out in Schedule 1. Click here for electronic fee payment instructions.

List of Approved E-Money Issuers (“EMIs”), Payment Service Providers (“PSPs”), and Payment System Operators (“PSOs”) as at March 3, 2025

Persons other than licensees* may be registered to issue e-money pursuant to the E-Money Issuer Order, 2020 (as amended December 2023.

Any entity licensed under the Financial Institutions Act Chap 79:09 may issue e-money subject to the approval of the Central Bank.

E-Money Issuers
Registered/Licensed EntityMobile Wallet ApplicationWebsiteStatus
PayWise LimitedPayWiseView websiteFull Registration – effective September 01, 2023.
PESH Money LimitedPESHView websiteFull Registration – effective September 01, 2023.
Telecommunications Services of Trinidad and Tobago Limited (TSTT)TSTT – PAYPRView websiteFull Registration – effective September 01, 2023.
Massy Remittance Services (Trinidad) LtdWIDiTView websiteFull Registration – effective March 03, 2025.
WamNow Technologies LimitedWAMView websiteProvisionally registered effective from December 01, 2024, for an initial 6-month period.

*Licensees or licensed institution means a licensed domestic institution or a licensed foreign institution and includes a financial institution which is deemed to be licensed under the Financial Institutions Act Chap 79:09.

E-Money Issuance Service provided by a Financial Institution
Licensed EntityMobile wallet ApplicationWebsiteStatus
Republic Bank LimitedEndcashView websiteApproved by the Central Bank under the New Product Guidelines for commercial banks. The End Cash App was launched in March 2021.

Payment Service Providers are registered pursuant to section 36(cc) of the Central Bank Act Chap. 79:02 and Payment System Guideline Number 3 – Operation of Payment Service Providers

List of Approved Payment Service Providers (PSP)
Registered/Licensed EntityPayment Service NameWebsiteStatus
Grace Kennedy (Trinidad and Tobago) LimitedBill ExpressView websiteRegistered – September 30, 2014.
*Grace Kennedy Trinidad and Tobago Ltd. operators of Bill Express, has been a registered Bill Payment Service Provider since September 30, 2014 .
PayWise LimitedPayWiseView websiteRegistered – March 13, 2019.
PBS Technologies Limited (formerly Massy Technologies InfoCom (Trinidad) Ltd.)SurePayView websiteRegistered – December 23, 2021.
*SurePay was initially registered on October 2019 and its registration was continued to PBS Technologies on December 23, 2021.
IGT Global Services LimitedVIAView websiteRegistered – December 13, 2019.
WiPay Payment Solutions LimitedWiPayView websiteRegistered – January 22, 2020.

1 A Bill Payment Service Provider is treated as a sub-category of Payment Service Provider.

Interbank Payment System Operators are registered pursuant to section 93(1) of the Financial Institutions Act Chap 79:09 and Payments System Guideline Number 1 – Licensing and Operation of Interbank Payment Systems.

Interbank Payment System Operator
EntitySystems OperatorWebsiteStatus
Infolink Services Limited
  1. LINX – Debit Card
  2. Automated Clearing House/Electronic Funds Transfer – ACH/EFT *previously operated by Trinidad and Tobago Interbank Payment System (TTIPS)
  3. Automated Clearing House/Electronic Cheque Clearings – ACH/ECC
View websiteLicensed on:

  1. February 1, 2010
  2. March 28, 2022
  3. February 15, 2023

** There are currently no Non-Interbank Payment System Operators (NIPSO) registered with the Central Bank of Trinidad and Tobago.

Payment Services Resources

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