The efficient functioning of the financial system relies on the soundness and safety of the National Payments System (NPS). The NPS consists of all systems which facilitate the clearance and settlement of payments. The more significant of these are the large-value systems such as the Real Time Gross Settlement (RTGS) system, the Government Securities Settlement (GSS) system, and retail payment systems such as the Cheques Clearing House, the Automated Clearing House (ACH) and card payment schemes.
The Financial Institutions Act, 2008 upgraded the legal foundation for payments by among other things, enabling payment finality, and making explicit the Bank’s responsibility for payment system oversight and regulation.
The Bank has adopted the internationally accepted standard of the Core Principles for Systemically Important Payment Systems as its benchmark in conducting oversight assessments of systems.
The Payments System department publishes a quarterly newsletter, called Payments Quarterly, to keep stakeholders informed of developments in the national payment system. The bank also holds the chairmanship of the payments System Council This is a voluntary body comprising stakeholders in the Payments System whose purpose is to support the achievement of sound and efficient payment systems in the country.
Payments System Council Webpage
Central Bank of Trinidad and Tobago Approved Payments System Providers/Operators
Circular Letters
Circular Letter - Revised Draft Corporate Governance Guideline
Circular Letter - Approval of the Compliance Officer and the Designation and/or Approval of the Alternate Compliance Officer for Financial Institutions Regulated by more than one Supervisory Authority - June 03, 2020
Circular Letter- Consultation on the Draft Guideline for non-bank Non-Financial Institutions In Retail payments - April 29, 2020
Circular Letter - The Revised Personal Questionnaire and Declaration Form: Clarification of Witness Requirement and Special COVID-19 Provisions - April 28, 2020
Circular Letter- Clarification on Electronic Submission of Correspondence to Financial Institutions Supervision Department due to COVID-19 Measures - April 9, 2020
Circular Letter - Issuance of Revised Fit and Proper Guideline and Revised Personal and Corporate Questionnaire and Declaration Forms - October 29, 2019
Papers
Reports
Oversight Report 2012
Oversight Report 2010
Statistical Report on Payment Systems in Trinidad and Tobago 2000-2010
Newsletters
Payments System Council Newsletter - March 2019
Publications
Payments Quarterly and safe-tt Publications
Guidelines
Fit and Proper Guideline - October 2019
Personal Questionnaire and Declaration Form
Corporate Questionnaire and Declaration Form
Licensing and Operation of Interbank Payment Systems - November 2012
Registration and Operation of Non-Interbank Payment Systems - November 2012
Operation of Payment Service Providers - November 2012
Oversight of Systemically Important Payment Systems - December 2012
Draft and Consultation Documents
Draft Corporate Governance Guideline
Draft Guideline for Non-Bank Non-Financial Institutions in Retail Payments - April 2020
Draft E-Money Policy - November 2018
Industry Comments Matrix on Draft Fit and Proper Guideline 2019
Circular Letter Draft Revised Fit and Proper Guideline
E-Money Policy Feedback Report
E-Money Policy Circular Letter
Presentations
“Presentation on the Promotion of E-Payments” made to the Bankers Association of Trinidad and Tobago by Deputy Governor Alvin Hilaire on behalf of the Payments System Council - February 2014
Please click link to view presentation. Promotion of E-Payments in T&T
Selected Payments System Statistics
Number of ATM and POS machines by year
Credit Card Transactions by year
Debit Card Transactions by year
Number of ATM and POS machines by month
Credit Card Transactions by month
Debit Card Transactions by month
Related Websites
The Caribbean Group of Banking Supervisors (CGBS)
The Caribbean Association of Insurance Regulators (CAIR)
Trinidad and Tobago Security Exchange Commission (TTSEC)
Publications
Payments Quarterly and Safe-tt
Other Relevant Legislation
Data Protection Act No. 13 of 2011
Electronic Transfer Act No. 6 of 2011
Electronic Transfer of Funds Crime Act, 2000
The Securities Industry Act No. 32 of 1995
Public Notices
Joint Public Advisory on Virtual Currency
Public Statement on Virtual Currency
Authorised Payment Service Providers and Payment System Operators
