Central Bank Refutes False Claims Circulating About BiMPay

The Central Bank of Barbados is aware of a voice note currently circulating on WhatsApp containing false and misleading claims about Barbados' instant payments system, BiMPay.

The recording makes several inaccurate assertions, including that individuals are no longer able to receive funds from overseas through services such as PayPal unless they have BiMPay, that domestic transfers are deliberately being slowed for persons who do not use BiMPay, and that the Central Bank is forcing or coercing members of the public to adopt the service.

These claims are entirely false.

BiMPay is a domestic payment system that facilitates instant electronic payments between participating financial institutions within Barbados. It does not process international money transfers or remittances and has no impact on services such as PayPal or other overseas payment platforms. The ability to send or receive funds internationally is not dependent on whether an individual has the BiMPay wallet.

The Central Bank has not instructed banks, credit unions or payment service providers to slow or restrict any existing payment services for customers who choose not to use BiMPay. There has been no policy or directive to delay domestic transfers in order to encourage adoption of the system.

BiMPay is Barbados' national instant payments infrastructure. It enables participating financial institutions to exchange payments securely in real time, 24 hours a day, seven days a week. The BiMPay wallet is simply one optional way of accessing that infrastructure. Customers may also access BiMPay through the digital banking applications or payment services offered by participating financial institutions.

The Central Bank categorically rejects suggestions that it is forcing, manipulating or coercing members of the public into using BiMPay. The introduction of the national instant payments system is intended to expand consumer choice by providing an additional payment option alongside existing electronic payment services. Individuals remain free to choose the payment methods and digital channels that best meet their needs.

The Central Bank encourages members of the public to exercise caution when receiving or sharing unverified information on social media and messaging platforms. Before forwarding messages or acting on claims about the financial system, individuals should verify the information through the Central Bank's official communication channels or with their financial institution.

2026-08-06