CARICOM Is Developing Consumer Protection Of Financial Services Sector

A digital world of payment systems, digital currencies and new types of financial instruments will keep regulators very busy, as they try to balance consumer protection and encouraging business growth.

The CARICOM Union is developing new policies that will regulate Financial Services company’s throughout the CARICOM Block of Nations.

Banks, Insurance Companies, New Digital Currencies and Digital payment systems are just some of the type of companies that may see robust regulations, especially for internet based transactions and digital currencies.

Belize & Caribbean Business Reporting

The goal of the regulators is the create policies that protect consumers when they use new types of financial services offered by businesses, that are now more agile and utilizing new types of financial instruments in the regional block.

As a part of the process, CARICOM is conducting surveys to get the input from consumers and businesses that may utilize such services in the near future.

I addition to your standard ‘Debit Card or Bank Credit Card or online BillPay Apps. Here is a short list of just a few payment systems in the Caribbean.

2CheckOut, *BitCoin, BitPay, Coinbase, E-Kyash, JamClear, NCB Quick Mobile, Sigicore MyCash, Payoneer, *Paypal, Paysera, Peer-to-Peer, *Skrill, WiPay, . . .
and a lot more

*is not available in the Caribbean but are used by people or businesses with U.S accounts.

Written & Compiled by: / digitalBelize,LIVE Staff writer – Friday, January 7th. 2022 –

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