Barbados will have a new electronic payments system in place within two years including digital cheques.

Deputy Governor of the Barbados Central Bank, Michelle Doyle, disclosed the plan for the digital payments system during a digital transformation workshop hosted by the Central Bank.

She says it will be a 24/7 instant payment solution across the commercial banking system,

There are also plans for a switch to digital cheques.

Deputy Governor of the Barbados Central, Michelle Doyle.