PRESIDENT, Dr Irfaan Ali recently announced a national digital payment platform that aims to eliminate long ATM lines and create a future of smooth, cashless transactions.

At the opening of Demerara Bank’s modern Beterverwagting branch on Monday, the President directed the Central Bank Governor to implement this system within six months. This includes digital wallets that will be available both nationally and internationally.

This is not just a small change; it represents a major shift from inconvenient branch visits to easy online banking, deposits, transfers, and bill payments. This move aligns perfectly with Guyana’s growing economy, which is being boosted by oil wealth and ambitious growth goals.

President Ali’s practical approach stands out as he uses existing bank accounts—already trusted for pensions, NIS benefits, salaries, utilities, and cash grants—to support this initiative. This method is cheaper and more organised than starting from scratch.

It enhances financial inclusion, bringing everyday Guyanese into a strong banking system where saving, spending, and accessing services become routine. Demerara Bank’s CEO, Dowlat Parbhu, supported this progress by introducing a large 23,000-square-foot facility filled with smart ATMs, drive-throughs, and advanced technology. He noted that the bank had a 50 per cent share of last year’s lending growth and an impressive profit of $8.41 billion in 2025.

Their upcoming “next-generation digital solutions” aim to deliver banking directly to customers without needing to visit a branch, showing a commitment that will support sectors such as housing, agriculture, oil, and hospitality.

This move towards digital finance is not a luxury; it is crucial for Guyana’s integration into the global marketplace.

It will modernise our financial system to reflect our economic goals and reduce reliance on cash.

Guyana is not just making changes. The nation is moving forward, giving citizens convenience, security, and new opportunities in a truly cashless future.