Nov 6, 2026
2 min read
A national digital payment system, built with technical support from India, is expected to be launched before the end of 2026, modernising how financial transactions are conducted in the country.
President Dr Irfaan Ali and India's External Affairs Minister Dr S Jaishankar signed an agreement on the initiative during the Commonwealth Heads of Government Meeting in Antigua and Barbuda.
The system will draw on India's Unified Payments Interface (UPI), which enables electronic transactions between participating financial institutions.
Ali said the technology would help transform Guyana's financial infrastructure.
"In order for any country to be competitive today, we have to develop a payment system and we are very happy that India is supporting us in building out this national payment system that is of international standard. It is one of the most modern payment systems, one of the most highly integrated payment system.
It will reduce the cost of doing business, improve our competitiveness, enhance financial security and create greater transparency in the financial system. So, we are very pleased today that this is moving forward and by the end of this year we will be able to launch the national payment system," he said.
More than 20 Guyanese personnel are being sent to India to gain practical experience with the technology, he said.
"Today as I as we sign these agreements, we already have more than 20 persons who are going to India to work in the in the UPI environment in your national payment environment. So, they get on the job training," Ali said.
India is also deploying a technical team to support implementation, he said.
Details of how consumers and businesses will access the system, including which financial institutions will participate, have not yet been outlined.
