{"id":82744,"date":"2026-04-09T16:13:51","date_gmt":"2026-04-09T16:13:51","guid":{"rendered":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/?p=82744"},"modified":"2026-04-09T16:24:46","modified_gmt":"2026-04-09T16:24:46","slug":"montran-corporation-selected-to-develop-central-banks-fast-payment-system","status":"publish","type":"post","link":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/2026\/04\/09\/montran-corporation-selected-to-develop-central-banks-fast-payment-system\/","title":{"rendered":"Montran Corporation selected to develop Central Bank&#8217;s fast payment system"},"content":{"rendered":"<h3><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-82747 alignright\" src=\"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/wp-content\/uploads\/sites\/2\/2026\/04\/download-5.png\" alt=\"Fast Payment System\" width=\"250\" height=\"180\" srcset=\"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/wp-content\/uploads\/sites\/2\/2026\/04\/download-5.png 250w, https:\/\/www.bahamastradeinfo.gov.bs\/buy\/wp-content\/uploads\/sites\/2\/2026\/04\/download-5-150x108.png 150w\" sizes=\"(max-width: 250px) 100vw, 250px\" \/>Central Bank Advances Digital Payments with New Fast Payment System Initiative<\/h3>\n<p>The Central Bank of The Bahamas (CBOB) announced yesterday that it has chosen the Montran Corporation to develop a fast payment system (FPS) solution for The Bahamas, to modernize the domestic payments system and strengthen the payments and settlements infrastructure. The CBOB said it hopes to launch the system by the first quarter of 2027.<\/p>\n<p>In October of 2025, the bank launched a competitive request for proposals (RFP) process, and received 16 responses to develop the FPS.<\/p>\n<p>\u201cSince 2003, the Central Bank has partnered with Montran on several payment system solutions, including its Bahamas Inter-bank Settlement System (BISS) \u2014 a real-time gross settlement (RTGS) system \u2014 and, more recently, the Bahamas Government Securities Depository (BGSD), a centralized securities depository,\u201d the CBOB said.<\/p>\n<p>\u201cMontran is a privately owned software development company founded in 1979, and headquartered in New York, USA.<\/p>\n<p>\u201cThe company is a well-regarded global payment system technology provider, having its RTGS solution implemented in more than 40 countries, and establishing its footprint in the fast payment space through deployments in 11 countries, including in the Caribbean.<\/p>\n<p>\u201cThe Central Bank\u2019s implementation of an FPS solution expands on its Payment Systems Modernization Initiative (PSMI), which targets improved outcomes that not only increase payments efficiency, but also keep pace with evolving global payments standards and trends.\u201d<\/p>\n<div class=\"flex flex-col text-sm pb-25\">\n<section class=\"text-token-text-primary w-full focus:outline-none [--shadow-height:45px] has-data-writing-block:pointer-events-none has-data-writing-block:-mt-(--shadow-height) has-data-writing-block:pt-(--shadow-height) [&amp;:has([data-writing-block])&gt;*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]\" dir=\"auto\" data-turn-id=\"request-WEB:3861047a-fda7-4ecd-9bce-266c3031b63d-0\" data-testid=\"conversation-turn-2\" data-scroll-anchor=\"true\" data-turn=\"assistant\">\n<div class=\"text-base my-auto mx-auto pb-10 [--thread-content-margin:var(--thread-content-margin-xs,calc(var(--spacing)*4))] @w-sm\/main:[--thread-content-margin:var(--thread-content-margin-sm,calc(var(--spacing)*6))] @w-lg\/main:[--thread-content-margin:var(--thread-content-margin-lg,calc(var(--spacing)*16))] px-(--thread-content-margin)\">\n<div class=\"[--thread-content-max-width:40rem] @w-lg\/main:[--thread-content-max-width:48rem] mx-auto max-w-(--thread-content-max-width) flex-1 group\/turn-messages focus-visible:outline-hidden relative flex w-full min-w-0 flex-col agent-turn\">\n<div class=\"flex max-w-full flex-col gap-4 grow\">\n<div class=\"min-h-8 text-message relative flex w-full flex-col items-end gap-2 text-start break-words whitespace-normal outline-none keyboard-focused:focus-ring [.text-message+&amp;]:mt-1\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"0b1596c8-fe62-4a72-ab6c-6f33999b2d4a\" data-message-model-slug=\"gpt-5-3\" data-turn-start-message=\"true\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden\">\n<div class=\"markdown prose dark:prose-invert w-full wrap-break-word light markdown-new-styling\">\n<h3 data-start=\"320\" data-end=\"401\">Real-Time Payments and System Integration to Transform Financial Transactions<\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"z-0 flex min-h-[46px] justify-start\">The CBOB said the completed FPS solution will enable real-time domestic payments settlement all the time, every day.<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<p>It added that the system will also be interoperable with the existing payments and settlement platforms for the Automated Clearing House (ACH), the RTGS system, and The Bahamas\u2019 central bank digital currency (CBDC), the Sand Dollar.<\/p>\n<p>\u201cAll commercial banks, credit unions and licensed payments service providers will operate on the fast payment system,\u201d the CBOB said.<\/p>\n<p>\u201cThe government and the national insurance board will also be direct participants. Like BISS and BGSD, the Central Bank will own and operate the FPS.<\/p>\n<p>\u201cThe public will receive ongoing updates in the coming months, and the implementation process will be supported by a comprehensive and intensive public education and awareness campaign, particularly for businesses and consumers.\u201d<\/p>\n<p><a href=\"https:\/\/www.thenassauguardian.com\/business\/montran-corporation-selected-to-develop-central-banks-fast-payment-system\/article_ac2c9780-3c41-460f-a5ef-e12ee2f23907.html\" target=\"_blank\" rel=\"noopener\"><strong>Source: Nassau Guardian<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of The Bahamas will develop a fast payment system (FPS) solution for The Bahamas, to modernize the domestic payments system and strengthen the payments and settlements infrastructure.<\/p>\n","protected":false},"author":16,"featured_media":82749,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-82744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - 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