By Sue-Ann Wayow
FOR the first time, a company will be authorised to issue electronic money (e-money) domestically.
The Central Bank in a media release on Wednesday stated that it issued a provisional registration to PayWise Limited as an e-money issuer.
Paywise is a company incorporated in Trinidad and Tobago in 2013 and was registered as a payment service provider in 2019 by the Central Bank.
The provisional registration authorises PayWise to issue e-money in Trinidad and Tobago from September 1.
“PayWise will be the first company, apart from banks and non-bank financial institutions, authorized to issue e-money domestically,” the bank stated.
Under the terms of the provisional registration, PayWise will be allowed to enlist new customers in a controlled environment monitored by the Central Bank. For further information, persons can visit the Central Bank’s website.
