Scotiabank Customers Can Now Access the BiMPay E-Wallet

Customers of Scotiabank (Barbados) Limited can now access the BiMPay e-wallet, expanding their ability to send and receive payments instantly through Barbados’ national payment system. The e-wallet is now available to customers of all six commercial banks. This was announced by the Central Bank of Barbados, which owns and operates the system.

Since BiMPay went live in June, Scotiabank has been using the BiMPay payment rail to facilitate instant payments. The rail enables Barbados’ six commercial banks and three largest credit unions, being Barbados Public Workers’ Co-operative Credit Union Limited, City of Bridgetown Co-operative Credit Union Limited and AffinityPlus Credit Union Limited, to process payments 24 hours a day, 365 days a year, with transactions typically completed within seconds and recipients having immediate access to their money.

With access to the BiMPay e-wallet now available, Scotiabank customers can benefit from additional functionality designed to make everyday payments faster and more convenient. The wallet allows users to send and receive money using an alias such as a mobile number, rather than sharing full account details, and supports QR code payments and Request to Pay.

“Bringing Scotiabank customers onto the BiMPay e-wallet is another important step in expanding access to instant payments in Barbados,” said Central Bank Governor, Dr., The Most Honourable Kevin Greenidge, F.B.

“The more customers who can access the e-wallet through participating financial institutions, the more useful the BiMPay ecosystem becomes. This gives Scotiabank customers greater choice and convenience while supporting the development of a faster, more connected payments environment,” he said.

The Governor also noted that customers have not been charged a fee for using BiMPay since launch. Any institution wishing to introduce a BiMPay fee must first obtain the Central Bank’s non-objection and comply with the applicable customer notification requirements.

With Scotiabank now enabling access to the BiMPay e-wallet, customers of all six commercial banks, as well as Barbados Public Workers’ Co-operative Credit Union and City of Bridgetown Co-operative Credit Union, can access the wallet. AffinityPlus Credit Union is already connected to the BiMPay rail and is expected to enable e-wallet access for its customers shortly.

Visit BiMPay.bb to learn more about BiMPay.