President Irfaan Ali says Guyana will roll out a national payment platform and expand access to digital wallets within the next six months, as part of efforts to modernise the country’s financial sector and reduce reliance on cash.
Ali made the announcement Monday during the ceremonial opening of a new branch of Demerara Bank Limited at Beterverwagting.
“In the next six months, I have advised the governor of the central bank that…a national payment platform must be fully operational and we must have access to the digital wallets at a national level and at a national scale,” Ali said.
He explained that the initiative forms part of a broader strategy to modernise Guyana’s financial ecosystem and expand access to cashless transactions nationwide.
According to the president, the next phase will focus on developing infrastructure to support seamless digital payments across the country. This includes equipping supermarkets, retail outlets and other businesses with technology capable of processing contactless payments, allowing customers to pay by tapping or swiping their mobile devices.
“That is where we are going and that is where the country is heading,” Ali said.
Ali also revealed that Demerara Bank is expected to launch its own digital wallet for customers within the next four to six weeks, marking an early step toward broader adoption of digital financial services.
He noted that expanding access to banking services remains central to the government’s development agenda, describing the new branch as both an expansion of traditional banking and a step toward digital transformation.
“The opening of the new branch represents a continued expansion of traditional banking services but it also reminds us that the future lies in greater inclusion and digital transformation,” Ali added.
