How do people in the Bahamas pay online?
Cards come first. In 2022 the Governor of the Central Bank of The Bahamas, John Rolle, said that up to 70% of adults use debit and credit cards more often and for larger amounts, while fewer than 20% of adults use e-money wallets, and then infrequently and for small amounts. The Bahamas is one of the few Caribbean countries on Apple’s list of Apple Pay countries, and Google Pay works for online and in-app payments.
Internet use is high. The World Bank, using ITU data, puts the share of the population using the internet at 92.5% in 2024.
Cheques are being phased down. The central bank and the commercial banks agreed in October 2023 to move the target for reducing cheque use from December 2024 to December 2026, when progress in the payments system will be reassessed. Transfers from online banking are the electronic alternative.
The Sand Dollar is the digital Bahamian dollar. It is issued by the central bank through authorised financial institutions and was released nationwide in October 2020. Its wallets work in mobile apps, by QR code or with a physical card, through partners such as Island Pay and MoneyMaxx. At the end of December 2023 there were 118,955 personal wallets in use, up 20% in the year, and Sand Dollars in circulation had risen 60.8% to $1.7 million. Payments from people to businesses and between businesses, mostly in Sand Dollars, reached $4.5 million in November 2023. Circulation is small next to cash: in 2022 the governor said it was less than 1% of physical currency. Reuters reported in July 2024 that the central bank was drafting rules that would require commercial banks to offer the Sand Dollar.
What rules shape online payments in the Bahamas?
VAT is 10%. The Department of Inland Revenue applies a standard rate of 10% and a zero rate. According to Deloitte, businesses register once their taxable supplies reach BSD 100,000, but a business located inside or outside the Bahamas that provides telecommunications services or electronic commerce for use in the Bahamas must register regardless of its turnover.
Exchange control applies. Deloitte notes that transactions under the foreign exchange rules, such as loans, dividends or capital repatriation, need the central bank’s approval unless they fall within capped amounts that authorised banks can handle. The central bank generally does not withhold approval for current account transactions such as payments for imports.
Data protection is an older law. The Data Protection (Privacy of Personal Information) Act is enforced by the Data Protection Commissioner. DLA Piper notes that there is no registration duty and no breach notification duty, and that the commissioner may prohibit transfers abroad where the recipient does not give equivalent protection, unless the person has consented.
Regional payment links are in testing. The Central Bank of The Bahamas and the Central Bank of Barbados completed a proof of concept for the CARICOM Payments and Settlement System, which is designed to settle payments between Caribbean countries in local currencies, the Eastern Caribbean Central Bank said in June 2025.
How would Omno route payments in the Bahamas?
A merchant would connect once and set routing rules per method, currency and customer group. In The Bahamas:
- Card pay-ins would be routed by BIN, so local debit cards and international credit cards each go to the provider set for them, with cascading to the next provider in the rule if one is unavailable or rejects the request.
- Apple Pay and Google Pay would appear in the hosted checkout on supported devices, with the underlying card routed by the same rules.
- Bank transfers and wallets could be offered through providers that support them, with the order pending until the provider confirms the payment.
- Customer groups could offer saved cards to returning customers.
Webhooks would report the final status of every payment, and the routing-decision log would show which provider handled each payment and why.
What should merchants plan for?
Plan for cards and wallets on the phone. Cards carry most electronic payments and Apple Pay and Google Pay are both available, so a short card form with wallet buttons covers most shoppers.
Plan for VAT from the first sale. A foreign business supplying electronic commerce for use in the Bahamas must register for VAT regardless of turnover, at the 10% standard rate.
Plan for transfers. Cheques are being phased down, so a bank transfer option helps customers who pay from their account.
Plan for the Sand Dollar to grow slowly. It is still small next to cash, so watch whether banks are required to offer it before treating it as a checkout method.