Leader of Government Business in the Senate, Senator Shenella Govia, has hailed the Payment System and Services Bill 2025 as a major step toward modernising Antigua and Barbuda’s financial infrastructure, describing it as a “transformative” and “forward-looking” piece of legislation.

Speaking during the second reading of the bill on Friday, Govia said the legislation provides the legal framework to regulate and oversee both traditional and digital financial transactions across the twin-island state.

“This bill is about creating a safe, reliable, and inclusive payment infrastructure for all citizens and businesses in Antigua and Barbuda,” she told fellow senators. “It ensures that transactions are transparent, accountable, and resilient.”

The bill introduces licensing and oversight mechanisms for payment service providers, requiring entities engaged in money transmission—physical or electronic—to meet strict operational standards.

With the rise of digital commerce and mobile banking, Govia noted that the timing of the bill is critical. “Technology is taking over… maybe soon we won’t even have these papers in this Honourable House,” she quipped.

Senator Govia also stressed the bill’s role in advancing financial inclusion, particularly for the unbanked and underbanked, and highlighted the country’s broader ambitions.

“We are a regional leader in education, in healthcare—and now we want to be the regional leader in finance,” she said.

She concluded by describing the bill as a “bridge towards the future” where payments are “faster, safer, and more accessible,” and urged support for its passage, noting there was no contention around the legislation.

The bill is part of the government’s wider push to strengthen the legal and institutional frameworks necessary to support digital transformation in the financial sector.