Bank of Baroda ready to rollout cashless Indian payment system in Guyana

Last Updated on Sunday, 8 November 2026, 13:30 by Written By Denis Chabrol

The India-headquartered Bank of Baroda is on standby to assist Guyana to introduce a cashless Indian payment system in Guyana, that financial institution’s Managing Director and Chief Executive Officer Dr Debedatta Chand said at the weekend.

The Unified Payments Interface (UPI) has been offered to Guyana and other Caribbean Community (CARICOM)-member states.

“Following the understanding between India and Guyana, efforts are underway to facilitate a UPI-based payment capability in Guyana and we, Bank of Baroda,  are going to play an anchor role therein. Bank o Baroda will also be in touch with the relevant authorities over India so that this is rolled out at the earliest,” he said at the opening of the bank’s new local headquarters on Carmichael and Quamina Streets.

India’s High Commissioner to Guyana, Chinmoy Naik also remarked that UPI has totally transformed the transaction revolution. He told attendees, who included President Irfaan Ali, that the Guyanese leader has directed that that system be rolled out here “as soon as possible”. “I can assure you, Excellency, that the Indian team is fully committed to work with your team and roll it out. The Bank of Baroda is also a partner in that,” Mr Naik said. 

The Indian government says UPI, developed by the National Payments Corporation of India (NPCI), has emerged as a cornerstone of India’s digital payments revolution. Today, UPI is accepted in 11 countries, with Greece and the Maldives being the latest to adopt India’s real-time payment platform.

With interoperable design and ease of use, India says UPI has fundamentally changed the way individuals, businesses and government entities transact. It is also described as a real-time payment system that powers multiple bank accounts through a single mobile application of any participating bank or payment service provider. India says UPI integrates multiple banking services, fund transfers and merchant payments on a single platform, and enables round-the-clock digital payments.