Trinidad and Tobago to launch India-based UPI Payment System

Trinidad and Tobago: A real-time payments platform is scheduled to be launched in Trinidad and Tobago based on India’s Unified Payments Interface (UPI). This will make it the first country in the Caribbean region to implement such a system.

The agreement between the Ministry of Digital Transformation in Trinidad and Tobago and NPCI International Payments Limited was signed in September 2024, with the system’s introduction and implementation now underway.

The platform is expected to reduce the use of cash, lower payment costs, increased accessibility of financial services, and greater interoperability among financial institutions. This agreement gives the government of Trinidad and Tobago ownership and control of the platform, along with technical assistance and skills transfer from India.

It is a part of Trinidad and Tobago’s efforts to upgrade its digital economy. The Caribbean nation’s Ministry of Digital Transformation has been engaging with Indian agencies since 2023 for research into India’s digital public infrastructure.

There have also been visits by Trinidad and Tobago officials to India to learn about systems like UPI and other India Stack solutions.

India’s External Affairs Minister S. Jaishankar has described the signing of the UPI agreement as part of a wider expansion of India-Trinidad and Tobago relations. He said, “The India-Trinidad and Tobago relationship reflects a unique convergence of history, human connection, and shared aspirations. It has evolved from the movement of people to a partnership of purpose.”

Improvements have also been made in the economic sector. The bilateral trade between the two nations was recorded at $368.96 million in 2023-24. It was worth $341.61 million in 2024-25 and $267.73 million in 2025-26. India’s exports to Trinidad and Tobago rose from $120.65 million in 2024-25 to $149.16 million in 2025-26.

India's exports to Trinidad and Tobago include vehicles and vehicle parts, machinery, pharmaceutical products, iron and steel, and plastics. On the other hand, Trinidad and Tobago mainly exports mineral fuels, mineral oils, iron and steel, ores and aluminium to India.

Energy is another important part of collaboration, as Trinidad and Tobago is seeking investments in their oil and gas industry. The two countries are also collaborating in agriculture, food processing, and pharmaceutical sectors, including an agreement on the development of automation of fruit and vegetable processing plants and the Indian Pharmacopoeia.

Indian immigrants came to Trinidad in 1845 when the vessel Fatel Razack carried the first group of 225 indentured workers from India. Over time, their descendents have become a vital part of political, economic and cultural life of the country.

This history is still important in strengthening the current relationship between both the nations. However, the focus has now shifted towards practical cooperation. Digital payments, energy sector, trade, pharmaceutical industry, agriculture and manufacturing are creating new areas of engagement.

For Trinidad and Tobago, the partnership with the UPI is highly significant. It is not a simple use of another payment system but an opportunity to control its own platform while providing access to Indian technology and expertise.