The payments system facilitates the discharge of financial obligations and the safe transfer of funds across distances and institutions. The Central Bank of Belize recognises that a safe, reliable and efficient payment system is central to the stability of the financial system. A developed payment system links financial institutions and payments and securities settlements systems and is underpinned by robust legal and regulatory framework.
Payments System Reform
The National Payment System (NPS) reform project began in 2010, with the goal to modernize Belize's payment system. On 21 October 2016, with collaboration of all participant banks and the Government of Belize, the Central Bank launched the automated transfer system and central securities depository, the backbone infrastructure of the NPS reform. This system, named the Automated Payment and Securities Settlement System or APSSS, provides electronic funds transfer, automated cheque processing services, and automated primary market operations.