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The Future of Pay is Digital
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PAY FAST
LIVE DIGITAL.

Embrace the ease of digital payments.


PAY FAST
LIVE DIGITAL.

Embrace the ease of digital payments.
 1. 
 2. 


ABOUTWHAT IS THE PAY FAST, LIVE DIGITAL CAMPAIGN?

The Central Bank of The Bahamas, Clearing Banks Association, credit unions,
digital wallet providers and others in the financial services industry may be
competitors on many levels but there is one thing we all agree on – The age of
digital payment solutions is here.

Payment systems are a vital part of our daily lives; they allow people and
businesses to move money between each other often in exchange for goods and
services. When we say digital payment, we refer to any transaction that is
electronic in nature. These options include

View More



WHY PAY FAST, LIVE DIGITAL?FASTER, SAFER, GREENER

For decades, how we paid and got paid changed very little. Fast forward to today
and we have an array of payment options, from traditional cash to modern
contactless card payments. The digital age has revolutionized the way we pay,
the way we do business, and the way we interact with each other.

Payment systems have changed and evolved substantially in a relatively short
period of time. Once only available on a desktop computer with slow dial-up
internet, banking today can be conducted from any smart device with instant
response. Not only are we able to use any device, laptop, cell phone, or tablet,
but we can handle our financial obligations or receive funds wherever we are,
from just about anywhere in the world. Today, we have more options than ever to
pay or get paid in ways that are faster, safer, greener.

View More



EVENTSSTAY TUNED FOR EXCITING EVENTS!


STAY TUNED FOR EXCITING UPDATES ABOUT OUR UPCOMING EVENTS. MORE DETAILS WILL BE
PROVIDED SOON.


PRESS/NEWS ROOMLATEST NEWS AND UPDATES

Mar 18, 2024


THE FUTURE OF PAY IS DIGITAL CAMPAIGN

Central Bank, Clearing Banks Announce Digital Campaign, Unveil Activities,
Promotions throughout Islands

Aug 3, 2023


CENTRAL BANK TO CONDUCT NATIONAL SURVEY ON CHEQUE ELIMINATION

Central Bank to Conduct National Survey to Measure Opinion on Paper Cheques.


FAQSQUESTIONS ABOUT
BAHAMIAN PAYMENT SYSTEMS

 * General
 * Digital Payment Safety
 * Online Banking
 * Online Transfers
 * Debit Cards
 * Credit Cards
 * Mobile/Digital Wallets
 * Cash and Cheques

I have a complaint about a bank of financial services firm, are you able to
help?

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Whilst we are the economic regulator of payment systems, other authorities or
organisations may be better placed to answer certain queries about payments and
the payments industry as a whole. Please note, we are unable to intervene in
disputes with retailers or other suppliers or get money back on behalf of
customers. If you wish to dispute a payment (e.g. to request a refund or if you
think you have paid someone you did not intend to), you should contact the
Payment Service Provider itself (e.g. the bank or card issuer) in the first
instance. If you think you have been scammed, then you may also wish to contact
Action Fraud.

If you wish to complain about the conduct of the firm, including if the firm has
rejected your request for a refund or you are unsatisfied by their attempts to
recover your funds, then you should follow their formal complaints process. If,
after doing this, you are still dissatisfied with the way your complaint has
been handled by the firm then you can complain to the Financial Ombudsman
Service. If you wish to complain about the conduct of a regulated firm, you may
also wish to contact the FCA, which is the conduct regulator for Payment Service
Providers in the UK. Finally, there are some circumstances regarding complaints
about a payment systems operator (e.g. Visa, Mastercard, Pay.UK) in which we are
the relevant authority. You can read more about this in ‘I have a complaint,
what should I do?’.

What does payments system modernization mean and why does it matter?

Payments system modernization refers to the process of upgrading the
infrastructure for payments in The Bahamas, to allow for convenient, efficient,
fast transfer of funds through electronic or digital channels.  It covers
changes in Bahamian laws to permit new forms of payments and to allow the
licensing and supervision of new providers of payments services.

How we pay for goods and services must continue to evolve, to become inclusive,
easier, faster and safer. A modern digital payment systems does just that.

What is a digital payment transaction?

A digital payment transaction is any payment for goods or services by electronic
means, rather than by cash or cheque. Some examples of digital payments methods
include 

 * Credit cards
 * Debit cards
 * Online banking
 * Money transfers
 * Digital wallets
 * Cash apps

What are some benefits of adopting digital payments?

Digital payments offers more immediate access to payment funds, and eliminates
the  time taken to cash or deposit checks, as well as any associated fees.
Increased security of transactions, and easier recourse to recover lost or
stolen funds. They are also better record keeping for accounting and management
of funds.

Are digital payments more secure than non-digital payments such as cash and
cheques?

Through practices which safeguard against fraud and theft, and which allow
individuals to regularly monitor their accounts, digital payments can be more
secure than cash and cheques. In instances of theft, digital transaction are
also more traceable, and more readily allow financial institutions to return
lost funds.

What can I do to reduce my risk of fraud?

There are many safe practices to reduce your risk of fraud. All financial
institutions offer sound advice on this topic. They include keeping your account
password and PIN strictly private, being on guard against scams that attempt to
steal your password and personal information, keeping your devices locked,
protecting your devices against viruses and malicious software (like
ransomware), and avoid using untrusted Wi-Fi services to conduct financial
transactions.

What is online or mobile banking?

Simply put, online banking is banking carried out with the use of mobile devices
or computers, rather than accessing banking services via the teller window or
the ATM.  Mobile banking includes accessing your bank account over the internet
on your computer, tablet or mobile phone to pay bills, transfer funds, open an
account, apply for a loan, or any other service you would traditionally visit
the a bank to complete.  If you are using a smart phone or tablet, your
financial institutions may offer a special app for you to do secure
transactions.

Are there any fees for using online banking?

Yes. Fees for online banking can vary across institutions, depending on the type
of transactions being done. Some services may also be discounted for senior
citizens. Please consult your individual institution for their fee structure.

What do I need to register for online banking?

As long as you have an existing bank account, you can apply for online banking. 
The process will vary from institution to institution. Your bank or credit union
will provide you with detailed instructions.

Do I need any special software for online banking?

No. Online banking can be done using the secure browsers on your computer,
mobile phone or tablets. Your commercial banks may also have a special app that
you can use on your mobile device.

Can I pay a bill using online banking?

Yes. All banks provide bill paying services for major utilities companies.
Institutions also provide direct bill payments for many other companies. Also,
you can use your online access to make wire transfers (third part transfers) to
any business or individual that has a local account at any bank in The Bahamas.

Is my banking information safe when I use online banking?

Online banking uses secure, encrypted channels to send messages between your
computer and your bank’s platform or computer system. Secured connections will
always display a locked padlock icon next to the displayed website address in
your web browsers. The customer confidentiality is the same for online banking
as in-branch banking.

Can someone access my online banking account if I lose my phone?

For anyone to access your account, they would need to know the password or PIN
that you use to log on to your account. By following secure practices, you can
minimize the risk of anyone accessing your password. Your passwords are personal
to you only, and should never be shared with others. You should also choose a
password that is difficult for other persons to guess. As an added layer of
security, your financial institution may also offer two factor authentication or
allow you to create a secondary password or PIN that changes each time you log
onto your account, usually delivered by SMS text, email, or special code
provided by an app that is kept on your phone. Without your personal password
and secondary PIN, your bank account cannot be accessed if you were to lose your
phone.

Do I need internet access to use online banking?

Yes. You do need internet access to use online banking.

I see a transaction on my statement that I don’t recognise. What should I do?

It is best practice to log in and monitor your account on a frequently basis. 
You should immediately query your financial institution for any transaction that
you do not recognise.

What is an electronic funds transfer (EFT)?

An EFT is a digital transfer of money from one bank account to another, a
payment completed via credit or debit card or through a digital wallet.  Neither
cash nor and physical cheques are used in the process.

What are the different types of EFTs?
 * ACH payment/fund transfer
 * Wire Transfer
 * ATM Transactions
 * Phone Payments
 * Debit & Credit Cards
 * Online payment systems
 * Peer-to-Peer Payments
 * Any electronic payment sent using bank account information

What are the types of ACH payments?

ACH direct deposit, ACH direct payment, & ACH direct debits.

Are electronic fund transfers safe?

EFTs are a very safe and convenient way to send money and receive payments.

What are some common types of EFTs?
 * Direct deposits
 * ATMs
 * Credit and debit cards payments
 * Virtual cards
 * Electronic-Checks
 * Person-to-person payments by digital wallets
 * Online banking payments
 * Wire transfers

What are examples ACH payments?

The ACH or automated clearing house sends payments between local banks in The
Bahamas. Transfers must be $50,000 or less. These include instructors for direct
deposits of salaries and other payments bill payments via wire transfers,
settlement of cheques, SandDollar digital wallet deposits.

How long does an ACH fund transfer take?

ACH transfers can take from less than a day to up to 3 working days to complete.
The speed can vary depending on your individual institution.

What is the difference between an ACH payment and a wire transfer?

There are several differences between ACH and wire transfers. First, while ACH
transactions are processed through an interbank system or a clearing house for
verification, wire transfers go directly and electronically from one bank
account to another. Further, ACH transfers are normally handled in batches and
can be slower than wire transfers—which are individual requests and is faster.
Wire transfer is typically used for high-value transactions.

Do I need a bank account to transfer funds electronically?

Yes. You will need a bank account or a digital wallet.

Can I transfer money from my account to an account at a different bank, or the
same bank, and is there a fee?

Transfers between accounts at different banks go through the ACH or the RTGS
systems. Funds can also be wired or transferred between different accounts at
the same bank. The service charges will vary across institutions. (Please
consult your individual institution for more information.)

How long does it take to transfer funds between my account and an account at
another local bank?

Transfers between banks or inter-bank transfers can take anywhere from same day
to up to 3 working days. (Individual institutions may vary)

What do I do if I transfer money to the wrong account number?

It is always a good practice to verify the account to account to which you are
sending funds by wiring a very small amount first, and to receive a confirmation
from the recipient. However, if you make an error consult your bank immediately.
Your institution will have procedures in place to investigate and correct
erroneous transfers.

What do I do if I transfer the wrong amount of money?

If you transfer the wrong amount of money, but it was to the correct recipient,
the most direct remedy is to ask the recipient to return the funds. Consult your
branch immediately.

Do I need to have online banking to make an online transfer?

Yes.

What is a debit card?

A debit card is linked directly to a savings or chequing account. It is issued
by your bank or financial institution and linked to one of the internationally
recognised brands such as Visa or MasterCard. Local debit cards can be used to
make payments, and to access ATM services.

How does a debit card work?

When payments are made these are deducted from your account.

What are the benefits of using a debit card?

A debt only allows you spend up to what is available in deposit account or what
is pre-paid on the debit card.

How is a debit card different from a credit card?

A credit card is not linked to a deposit account. It is based on a line of
credit provided by the financial institution. When used for payments the funds
are transferred by your financial institution to the recipient. You, the payer,
as the credit cardholder are obligated to repay the bank. You must also pay
interest to the financial institutions on any outstanding credit card balances.

Are there any fees for using a debit card?

Yes. Fees for having a debit card will vary from institution to institution.

Are there any fees for using an ATM?

Yes. ATM fees vary from institutions to institution.

Are my debit card transactions protected?

Your financial institutions monitors your debit card to detect and prevent
instances of fraud. However to maintain the security of your card you should
also monitor your account regularly, and follow other safety practices advised
by your bank, including immediately reporting missing or stolen cards.

Can I use my debit card for international transactions and is it safe?

Debit cards which have an international credit card brand attached to them can
also be used internationally. Safety risk can always be minimised if you follow
the advice given by your bank. Moreover, the kinds of risk to which you are
exposed could be less than using cash. Some losses are not recoverable with
cash, whereas your digital records allow your bank to do investigations that can
help you recover from debit card fraud.

Are there any fees for using my debit card for international transactions?

Fees will vary from institution. However, the most common cost of using your
card abroad is the foreign exchange conversion fee. It includes the stamp tax,
the forex fees charged on each transaction and the VAT on the forex fees. Forex
fees are normally a set percentage of the transaction value.

After a purchase or payment, is it possible to order a "stop payment" or obtain
a refund if there is a problem with the merchandise or service?

Refunds or reversal of charges, will have to follow the process that is
established by your financial institution. In some instances however, this
includes making direct queries with the merchant with whom you transacted. “Stop
payments” are not issued on card transactions.

How can I keep track of my card purchases?

Transaction may be monitored on your account statement. In addition your
institution might allow you to receive email or text notification each time a
transaction is done with your card.

I see a transaction on my debit card statement that I don’t recognize. What
should I do?

You should immediately raise all queries concerning your account with your
financial institution.

I’ve lost my debit card, what should I do?

Lost debit cards should be immediately reported to your financial institution.

What is a “chip card”?

A chip card, is a credit or debit card with a built in security chip. It
provides more enhanced security, than simple swipe cards because they are more
difficult to copy or clone. They also often require you to enter a security PIN
each time you use the card.

I can’t remember my pin, what should I do?

Your financial institutions will provide secure means for you to create a new
pin for your card. For this assistance, you should communicate with them through
contacts and channels they have provided.

What is debit card fraud?

Fraud would be any unauthorised use of your debit card to make payments or
withdraw funds.

How does debit card fraud occur?

For fraud to occur, the perpetrator would need to gain direct access to your
card or account information.

What do I do if my debit card is used fraudulently?

If you know or suspect that your card has been used fraudulently, you should
immediately contact your financial institution. They may take a number of
immediate steps, including freezing or cancelling your card. Afterwards a
process of investigation should begin to recover lost funds. In the event of
fraud, your financial institution may also issue you a new card, with a
different account number.

What is a credit card?

A credit card is an instrument issued by bank or financial institution (the
issuer) that allows you make payments or withdraw cash, which are paid on your
behalf up front by the issuer. In turn you are obligated to repay your issuing
bank later.

How do credit cards work?

Credit cards can be used to make payments to merchants, in person, at the point
of sale or on online e-commerce sites. Each payment request has to be authorised
by your card’s issue, with the branded international credit card networks
providing the secure channels to relay authorisation. To complete payments, you
as card holder would also have to provide information to the merchant such as a
PIN, CVV code or signature. Any purchase made will only be authorised up to the
credit limit on your card.

There is a grace period, in which your bank will allow you to repay your credit
balances in full, without any interest charges. If you miss this period and are
only able to make partial repayment, interest charges will be added to your
remaining balance each month. If you pay less than the minimum amount indicated
on your statement, within the date that is due, your bank may also charge late
payment fees.

What are the benefits of using a credit card?

A credit card is substitute for cash and for using your own funds. It provides a
layer of record keeping and a means of recourse if there are disputes with a
merchant, or outright cases of fraud. However, it does represent a loan on which
interest is charged. As a line of credit, it can help you make emergency
payments, if you are short on funds. However, you should always follow a
disciplined approach, and make regular payments against your credit card
balances.

What are the different types of credit cards you can get?

Financial institutions have been very innovative with credit card products. The
most common distinction is based on the credit card limit. Most persons are
familiar with “regular” and “Gold” cards. Gold cards have higher credit limits
in the thousands of dollars. Regular cards can start off at less than $1,000 and
commonly are significantly less than $10,000 on the upper end. Annual fees may
vary according to the type of card, as well as the reward perks (earning airline
miles, or getting cash back). In the other mix locally, credit unions also offer
card to their members.

What are credit card rewards?

Card rewards can take a variety of form. The common formula is that rewards are
earned in direct proportion to each dollar of purchases. For example banks might
provide a cashback refund of a few cents for each dollar spent, or some fraction
of airline miles for each dollar of spending. If you choose a rewards program,
there might also be an annual membership fee for the program.

How do I choose the right credit card for me?

Choose your card based on affordability, and intended usage. A good approach is
to start off with a card with a low credit limit, and to consider adding rewards
and other options ad you get more experience.

How do I apply for a credit card?

Each financial institution will have an applications process for credit card.
Once you make a direct enquiry, and complete the application your bank will
decide if you qualify for the card, and what credit limit should apply.

What is a credit card limit?

The card limit is the maximum amount of unpaid balances that you can carry on
your account. The difference between your actual balance and the credit limit,
is the maximum amount of purchases that car issuer will allow you to make. By
making payments on your account, you can restore available credit for future
transactions.

How do I increase my credit card limit?

You can follow the process disclosed by your financial institution to apply for
an increase in your credit limit.

How the interest rate on my card it work?

Your bank or card issuer will disclose the annual rate of interest on your
credit card. Each month interest will be charged based on the outstanding
balance on your card, at the monthly rate of interest. The monthly interest rate
is usually the annual rate divided by 12.

How can I lower my credit card interest rate?

You can request a lower interest rate card from your bank. However, your bank
might only charge a lower rate for cards that are considered a “Gold” or
premium. You can also ask about the option of obtaining cash secured card, which
would require you to maintain a fixed deposit, equal to at least the credit
limit.

When will the interest charge stop on my credit card?

Interest is only charged on unpaid balances. To avoid interest payment, you
should pay your monthly bill in full before each due date.

How can I keep track of my card purchases?

Sign up for online banking, and email and text alerts. Banks allow you to
monitor your credit statement statements online, as frequently as you might
choose. In addition, depending on your options, you can receive text and email
alert each time a purchase or charge is made using your card.

Can I use my credit card for international transactions and is it safe?

Yes. Your credit cards can be used for international transactions. The
transaction can be done safely and secure, one you follow the security
guidelines given by your institution. At the same time you may have the option
to restrict the use of your card abroad, to limit the chances of fraud. Your
financial institution will instruct you on how to manage such features, if they
are available

Are there any fees for using my credit card on international transactions?

Like debit cards, international credit card usage incur foreign exchange fees
and VAT charges on fees. Your bank can provide you with its fee schedule for
such transactions.

After a purchase or payment, is it possible to order a "stop payment" or obtain
a refund if there is a problem with the merchandise or service?

Stop payments are not possible with card transactions. However, you can take
other direct steps with your financial institutions to obtain a reversal if
there is fraud. Merchants are also able to issue refunds from payments, if there
are errors with the transaction, or if it agrees with their cancellation or
return policy for purchases.

What is a credit card statement and how often will I get one?

Credit card statements are issued monthly by your bank or financial institution.
They should provide a full listing of all transactions, by date, on your account
sine your last statement was issued. The statement will show, among other
things, how much you owe (outstanding balance), any payments made since the last
statement, interest and fees charged on the account, and new purchases or
refunds on your card. The statement will also indicate the minimum amount that
you must pay, which is always an amount greater than any new interest charges on
the account.

I see a transaction on my credit card statement that I don’t recognize. What
should I do?

You should immediately query the charge with you bank or financial institution.

How do I pay my credit card bill?

Your financial institution will have various options to pay your bill. The most
convenient option is to pay your bill though the online banking portal. However
banks also have a range of convenient transactions including bill payment that
can be done at smart ATMs. Your bank may also allow you to pay your bill over
the counter with cash, or by cheque.

What is a credit card grace period?

The grace period is the time given to allow to pay off credit card balance in
full, without incurring any interest charges.

Can I withdraw cash from my credit card and is there a fee?

Cash withdrawals are considered “cash advances”. You should consult your banks
for any fees that may apply. Fees might also apply for ATM services. Cash
advances however, may not have a grace period for interest charges.

I’ve lost my credit card, what should I do?

You should immediately inform your issuing bank or financial institution. This
will protect your account for further charges or use, until a new card is
re-issued.

How can I cancel my credit card?

You will have to directly request that your financial institution cancel the
card. This will prevent any new charges from being made against the card.

What is credit card fraud?

Credit card fraud, is any unauthorised use of your card. You should monitor your
account regularly to detect suspicious activity.

What do I do if my credit card is used fraudulently?

You should immediately inform your issuing bank or financial institution. This
will protect your account from further charges or use, and allow proper
investigations to take place to reverse the transactions.

What is a mobile or digital wallet?

A digital wallet is electronically stored funds in a secured account that can be
used to make or receive payments from other wallets or deposit accounts. A
financial transactions app, usually on a mobile phone or tablet, can be used to
operate the wallet. While the device allows you to access the funds in wallet,
the funds are usually kept on a secured central computer, not on the mobile
device.

What is a digital wallet used for?

A digital wallet securely stores your payment information and passwords. It
allows one to make electronic transactions with another individual or business
to purchase goods and services or to transfer funds.

Where can I get a mobile wallet?

To create a digital wallet, you will have to install the app from digital wallet
provider and complete the activation. The SandDollar app provided by Central
Bank also allows you to complete the setup of your wallet, and select from one
of the digital wallet providers as your preferred financial institution.

What are the benefits of using a digital wallet?

A digital wallet provides the benefits of a physical wallet, without having to
handle physical cash. However it also offers more safety and convenience. You
can transact with select businesses which have non-cash means of payments, as
well as transfer funds to and from bank accounts. Digital wallets such as
SandDolllar, also allow you to better track your spending. If you lose your
phone, your funds would not also be lost.

How does a mobile wallet work?

A mobile wallet allows you to send and receive payments instantly. You must use
a password to secure your wallet, and you must use a PIN each time you instruct
a payments. For convenience, wallets allow you to send and receive funds by
scanning a QR code, or by texting the funds to alias or telephone number of the
recipient. The range of features and means by which funds can be transferred
will vary across financial institutions, and may include additional depending on
the sophistication of phone and the payments terminal used by businesses.

Where can I use a mobile wallet?

All mobile wallets can send and receive SandDollars. Mobile wallets can be used
at any business that accepts SandDollars, or businesses that accept the “tokens”
issued by individual payment services providers (funds denominated different
from SandDollars). Mobile wallets can also send and receive funds from bank
accounts.

What devices work with a mobile wallet?

To set up a mobile wallet, you will need a smart phone or tablet, with a camera,
operating either with Android or iOS software. The mobile applications,
including SandDollar can be downloaded from the Apple App or Google Play store.

Is a mobile wallet safe and secure for making payments?

Yes. Wallets used encryption to send and receive transactions. They also require
the users to maintain a password on their accounts and to use either a PIN or
biometrics (facial recognition, or finger print scans) to complete each
transaction.

What happens to my mobile wallet if I change my device?

If your device is lost or changes, your payments provider has a set procedure
for you to connect to your wallet on a new device.

Can I send money to another mobile wallet?

Yes. Common ways in which you can send money to another wallet includes,
scanning a QR code that is displayed on the other wallet device, texting the
funds to the alias or wallet address of the account, or sending the funds trough
the ACH to the wallet address.

What is my wallet alias

Your alias is a unique easy to remember name that you create when you setup your
wallet or SandDollar account. It will look similar to an email or social media
handle (for example MIKE87@SandDollar.bs or MYPSP@SandDollar.bs+12421234567).For
some wallet providers this is generated automatically as you mobile phone
number.

What types of mobile wallets are available in The Bahamas?

Mobile wallets in the Bahamas operate with Bahamian dollars, either exclusively
with SandDollar or with a combination of SandDollar and private tokens issued by
the wallet providers. All wallet providers are licensed and regulated by the
Central Bank.

How do I make payments safely using a digital wallet?

Each time you make a payment you will need to use a password and PIN, or
password and biometrics to authorise the transaction. Following additional safe
practices, such as keeping your password and PIN private, and always using a PIN
to keep your device locked—will also protect your account.

Is the Central Bank planning on taking the country cashless?

No. The Central Bank is not taking the country cashless. However, the Central
Bank wants to ensure that all persons and entities inside The Bahamas have
options to make and receive payments digitally. This is to allow individuals to
be fully included when transactions are done on digital platforms, and to allow
them to reduce their dependence on cash and cheque payments, which can be
costlier for individuals who do not have, regular, direct access to physical
banking services.

Are cheques being eliminated?

Cheques are not being eliminated. The Central Bank is working with commercial
banks, the government, business community and other stakeholders to improve the
efficiency of and access to digital payments in The Bahamas.

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QUICK CONTACT

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Central Bank of The Bahamas
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P.O. Box N-4868
Nassau, N.P, Bahamas

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WHAT IS THE PAY FAST, LIVE DIGITAL CAMPAIGN?

The Central Bank of The Bahamas, Clearing Banks Association, credit unions,
digital wallet providers and others in the financial services industry may be
competitors on many levels but there is one thing we all agree on – The age of
digital payment solutions is here.

Payment systems are a vital part of our daily lives; they allow people and
businesses to move money between each other often in exchange for goods and
services. When we say digital payment, we refer to any transaction that is
electronic in nature. These options include

 * Online banking
 * Credit and debit cards
 * Contactless/Near Field Communication (NFC) payments
 * Digital/Mobile/E-wallet Purchases & Transfers
 * Online direct debit (e.g. Payroll, National Insurance benefits)
 * Wire transfers

Pay Fast, Live Digital is a call to action for all residents of The Bahamas to
embrace digital payment opportunities. The campaign aims to champion digital
competence, digital financial literacy, and financial inclusion. We hope to
address your common concerns about digital pay and empower you on your financial
journey in the modern era.

The Pay Fast, Live Digital campaign will take the mystery out of the word
‘digital’. The campaign is designed for Bahamians and residents of all ages and
stages in life, from the young digerati to the sun-kissed retiree.


WHY PAY FAST, LIVE DIGITAL? FASTER, SAFER, GREENER

For decades, how we paid and got paid changed very little. Fast forward to today
and we have an array of payment options, from traditional cash to modern
contactless card payments. The digital age has revolutionized the way we pay,
the way we do business, and the way we interact with each other.

Payment systems have changed and evolved substantially in a relatively short
period of time. Once only available on a desktop computer with slow dial-up
internet, banking today can be conducted from any smart device with instant
response. Not only are we able to use any device, laptop, cell phone, or tablet,
but we can handle our financial obligations or receive funds wherever we are,
from just about anywhere in the world. Today, we have more options than ever to
pay or get paid in ways that are faster, safer, greener.

Electronic banking and electronic payments have never been more popular and
easier.

Tens of thousands of Bahamians are electronically connected to payment
solutions. Businesses and consumers alike have embraced digital pay and are
sending and receiving money seamlessly every day across The Bahamas.

Yet, others are still hesitant. They may be the unbanked or underbanked or those
who are afraid to ‘take the leap’, preferring instead to pay and be paid with
cash.

The world is changing and just as we adapted to cell phones and devices that
depend on signals we cannot see or touch, so too are the ways we pay and get
paid. We can do it all now without touching cash, keeping us safer, and our
world greener.

Together, we partner in this informative two-year campaign across The Bahamas to
explain the benefits, options, and opportunities available with digital
payments. We will bring the digital payment age to you and give you the
blueprint to navigate this rapidly evolving frontier.