India’s Unified Payments Interface (UPI) system will be available in Trinidad and Tobago by 2025.
This was revealed by Central Bank Governor, Dr. Alvin Hilaire.
UPI is the system that powers multiple bank accounts into a single mobile application allowing cashless payments across platforms. The Central Bank Governor said the financial institutions, Government and the Central Bank will have to work together to ensure that the project is well defined, the public is properly educated, and every aspect meets international standards.
Dr. Hilaire was speaking at the Trinidad and Tobago Stock Exchange Capital Market Conference 2024 on Wednesday.