Parliament has passed the Payment System and Services Bill 2026.
The bill, which was piloted by Premier and Minister of Finance the Honourable Reuben T. Meade, introduces a modern regulatory framework for payment services and non-bank financial providers.
It also expands the Eastern Caribbean Central Bank’s supervisory authority over the rapidly evolving payments landscape.
The new legislation establishes clearer rules for licensing, oversight, and consumer protection, particularly as electronic and digital payment services become more widely used across Montserrat and the Eastern Caribbean Currency Union.
Premier Meade says it ensures a payment system that is safe, efficient and resilient, and protects of the interest of consumers on Montserrat.