TT central bank allows company to issue electronic money
CMC — The Central Bank of Trinidad and Tobago (CBTT) says it has issued a issued a provisional registration to Massy Remittance Services (Trinidad) Ltd (MRSTL) to issue electronic money (e-money) for a six-month period.
“E-money can be broadly defined as an electronic store of monetary value on a technological device, including mobile phones that may be widely used for making payments to entities other than the e-money issuer. E-money can be used for payment transactions with or without bank accounts,” the CBTT said in a statement
It said that under the terms of the provisional registration, MRSTL will be allowed to enlist new customers in a controlled environment supervised by the central bank.
MRSTL is a limited liability company incorporated on June 13, 2003. It is a subsidiary of Massy Financial Services Limited, a division of Massy Holdings Limited.
MRSTL is also licensed by the central bank to conduct the business of a bureau de change (cambio services) and operates as an agent representative for MoneyGram International in four countries, namely Trinidad and Tobago; Guyana; St Lucia; and St Vincent and the Grenadines.
