CARD payment company Visa and the TT International Financial Centre (TTIFC) have renewed their partnership to accelerate the country’s shift toward digital payments and improve financial access across all sectors.
The extended collaboration will focus on expanding digital services for small businesses, modernising government transactions and strengthening the local fintech ecosystem.
In a release on April 22, Visa and TTIFC said the alliance is intended to make everyday financial services more efficient and secure, particularly for micro, small and medium enterprises (MSMEs) and underserved communities, while advancing TT’s national financial inclusion agenda.
At the centre of these efforts is Visa’s Cybersource platform, which offers merchants and government agencies a suite of tools for secure, streamlined payment processing. These include advanced security features like tokenisation, Cybersource Decision Manager and 3D Secure 2.0, to protect users and reduce fraud risk.
"This renewed collaboration with TTIFC reaffirms our commitment to continue digitalising and supporting digital transformation efforts in TT to bring more innovation and prosperity for consumers and businesses in the country," said Jorge Salum, TT country manager at Visa.
"By combining our global payments expertise with TTIFC’s proven leadership in driving a cashless economy, we are confident that together we’ll foster a more agile and inclusive digital ecosystem – one that enhances convenience, security and greatest access to the future of commerce."
TTIFC CEO John Outridge spoke about the importance of the partnership in growing the fintech sector locally and regionally.
"We're excited to extend our collaboration with Visa as we continue accelerating growth of the local and regional fintech sectors through One FinTech Avenue, the first fintech innovation centre in the region.
"Visa has been a crucial partner in our mission to drive sector growth, and with their continued support, we will make significant strides in enhancing financial inclusion and digital payment solutions in TT," said Outridge.
[caption id="attachment_1024373" align="alignnone" width="1024"] TTIFC CEO John Outridge - Photo by Jeff K Mayers[/caption]
"United by a shared vision of creating a top-tier digital payments landscape, we are taking steps to expand digital payment acceptance to more constituents, particularly MSMEs. This renewed partnership will strengthen our FinTech ecosystem by unlocking new digital financial capabilities, empowering more citizens to fully engage in the digital economy."
The agreement builds on prior initiatives between Visa and TTIFC, including digitisation of public sector payments and supporting fintechs in scaling their platforms.
Recent projects leveraging Visa’s Cybersource platform have helped local businesses and agencies offer cashless payment options.
Both organisations say their joint efforts will continue to focus on increasing access to secure, convenient payment technologies for consumers, businesses and the
