TSTT and PESH get green light to issue e-currency

The content originally appeared on: News Americas Now

Black Immigrant Daily News

The content originally appeared on: Trinidad and Tobago Newsday

File photo of the TSTT House located #1 Edward Street, Port of Spain.

From March 1, TSTT, national telecommunications company, and PESH Money Limited, a digital wallet provider, would be able to issue e-currency for a six-month period.

Central Bank in a media release said it provided provisional registrations to the two companies and provided another six-month registration PayWise Limited, which got a provisional registration in September last year.

PESH is a privately owned local company established in 2017, the Central Bank release said. The company aims to provide e-wallets to facilitate the storage of e-money and allow transfers from peer to peer.

Central Bank defined e-money as an electric store of monetary value on a technological device, including mobile phones. It said that it could be widely used for making payments to entities other than the e-money issuer.