Central Bank survey on the way people pay

The way Barbadian and Caribbean people pay for the things they buy is to be surveyed by the region’s central banks, the Central Bank of Barbados has said.

As more payment options become available to customers, the Central Bank said it has begun work to ensure that policies keep up with the developments.

The Central Bank announced that it would be teaming up with other regional central banks to conduct a survey on how individuals in the Caribbean make payments.

The bank’s Deputy Director of Research and Economic Analysis Darrin Downes said the research would help the bank to better develop policies related to payments.

He said: “With more payment options becoming available to the public, the bank is seeking to better understand the public’s attitudes and preferences about the methods of payment used to purchase goods and services.   

“The survey results will help us and our fellow central banks across the Caribbean to shape policy going forward.”

The survey, which is available on the central bank’s website, assesses how respondents pay for purchases and seeks their opinions on a range of payment methods including cash, cheques, debit and credit cards and e-wallets.

The information will be collected by the Caribbean Economic Research Team, a policy research institution established by CARICOM central banks. The central bank said all responses will be kept confidentially.