NASSAU, BAHAMAS: The Central Bank of The Bahamas has taken another major step toward modernising the country’s payments infrastructure, completing an initial study and stakeholder workshop that will pave the way for the introduction of a national Fast Payment System capable of processing transactions within seconds, 24 hours a day.
The Central Bank said the Initial Fast Payment System (FPS) Study was conducted from July 15 to July 24, 2026, as part of its ongoing efforts to introduce instant payments to The Bahamas’ financial system.
Facilitated by Montran Corporation, the company selected to develop the country’s Fast Payment System, the study provided stakeholders with an overview of the project while assessing the technical and infrastructure requirements needed for successful implementation.
The initiative also included a two-day participant workshop that brought together financial institutions and other key stakeholders to engage directly with the Central Bank, Montran and other participants on the project’s development.
Once implemented, the Fast Payment System will allow consumers and businesses to make person-to-person (P2P), person-to-business (P2B) and person-to-government (P2G) payments in real time, with transactions processed within seconds, regardless of the time or day, including weekends and public holidays.
The Central Bank said the system is also being designed to integrate with the SandDollar, creating a more modern, resilient and inclusive national payments infrastructure that expands access to faster digital payments across The Bahamas.
The Fast Payment System forms part of the Central Bank’s broader strategy to modernise the country’s payments ecosystem by improving the speed, efficiency and accessibility of electronic transactions.
The Central Bank said it will continue to keep the public informed as the project advances, with updates on key milestones, stakeholder engagement activities and implementation plans to be released through its official communication channels.
