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Successful implementation first stage Instant Payments.

WILLEMSTAD/PHILIPSBURG:--- The Centrale Bank van Curaçao en Sint Maarten (CBCS) can look back on successful implementation of the first stage of the Instant Payments Clearing and Settlement Mechanism (IP-CSM). All interbank payments in and between Curaçao and Sint Maarten as well as interbank payments between banks in Bonaire will now be processed within a few seconds, 24 hours a day, 365 days a year.
As per January 15, 2022, the following financial institutions participate in the system:
Orco Bank NV (Curaçao, Sint Maarten & Bonaire) PSB Bank NV (Curaçao) Maduro & Curiel’s Bank NV (Curaçao & Bonaire) Windward Island Bank NV (Sint Maarten) Banco di Caribe N.V. (Curaçao, Sint Maarten & Bonaire) RBC Royal Bank N.V. (Curaçao, Sint Maarten & Bonaire)
CBCS now aims to get the other commercial banks connected to the IP-CSM as soon as possible during this year. Furthermore, the CBCS, in collaboration with the local banks, will further develop the IP-CSM to process transactions between Bonaire and Curaçao/Sint Maarten within seconds per June 2022 and will expand the payment options on all islands to more efficient mobile and online P2P (person-to-person), P2B (person-to-business), P2G (person-to-government) and in-store payments as of 2023.
Willemstad, January 17, 2022
CENTRALE BANK VAN CURAÇAO EN SINT MAARTEN

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