Payments and e-commerce in Trinidad and Tobago

In a population of 1.4 million people, over one million use the Internet regularly [1]. There are almost two million mobile subscriptions — so more mobile phones than there are people. And more than eighty percent of the adult population has a bank account. High rates of financial and digital inclusion in Trinidad and Tobago simplify market entry for e-commerce merchants.

The islands still have a heavily cash-based economy [2]. Support for alternative payment methods and particularly cashed-based online payments is important for any merchant planning on entering the e-commerce market in Trinidad and Tobago. In recent years, the government of Trinidad and Tobago has been working actively to promote the adoption of digital payment methods [3].

1. https://tradeind.gov.tt/e-commerce-in-trinidad-and-tobago
2. https://oxfordbusinessgroup.com/analysis/closer-home-online-shopping-grows-importance-local-retailers-call-e-payment-reforms-0
3. https://www.ttifc.co.tt/areas-of-business/acceleration-of-digital-payments