Visa, Infolink and most of Trinidad & Tobago’s leading financial institutions have completed the migration in September of their debit cards to the first dual-branded Visa-LINX debit contactless chip card. Migration to Visa contactless debit card technology is paving the way for more Trinidad and Tobago fintechs, consumers and merchants to develop e-commerce solutions and shop or sell online, in addition to enjoying the convenience of touch-free payments.
“The launch of the Visa-Linx Debit cards represents a significant milestone in the evolution of Trinidad & Tobago’s payments ecosystem. It establishes the foundation for the accelerated adoption of contactless payments and domestic ecommerce,” says Jorge Salum, Visa Senior Business Development Leader Caribbean Countries.
“Ultimately, debit cardholders benefit from the improved security and convenience of Visa’s contactless chip technology, local merchants can securely reach more customers online, and fintech companies have more opportunities to scale digital solutions.”
“InfoLink is pleased to partner with VISA and the local banking sector in bringing the safety of PIN and chip technology as well as the convenience of contactless (tap and go) to the TT market,” stated Glynis Alexander-Tam, Infolink’s General Manager.
Contactless payments are transactions made by tapping either a contactless chip card or payment-enabled mobile or wearable device over a contactless-enabled payment terminal. The contactless chip technology offers a high level of safety and flexibility in how cardholders can use their debit card in Trinidad and Tobago to buy, pay, check their balance, or withdraw cash.
Four leading banks – Republic Bank, Royal Bank of Canada (RBC), First Citizens, and Scotiabank—have completed migrations to Visa-LINX contactless chip cobranded cards, most of which are already in customers’ hand. This follows First Caribbean International Bank’s and JMMB Group’s Visa Debit cards, which are already available to cardholders.
Another important feature of the recently issued Visa-LINX debit cards is the technological capability for international use cases, including usability at international merchants. Visa Debit cardholders will soon be able to receive remittances directly on their Visa Debit cards. In addition, issuers may turn on those capabilities in the future.
Visa is partnering with stakeholders – banks, governments, fintech, merchants – throughout the Trinidad and Tobago and Caribbean digital payments ecosystem to foster a more integrated financial sector that promotes digital and financial inclusion and creates new opportunities with secure, convenient, stress-free payment experiences for users and business alike,” said Salum.
