Central Bank registers Massy Remittance as e-money issuer

CENTRAL Bank has registered Massy Remittance Services (Trinidad) Ltd, the operator for MoneyGram International, as an e-money issuer.

It made this announcement in a release on March 3, published on its website.

Central Bank said Massy Remittance was given a licence to carry on the business of an e-money issuer using its digital wallet app, WIDIT.

The release said the company received a six-month provisional registration period which ended on March 2.

Massy Remittance is a limited liability company incorporated on June 13, 2003, as a subsidiary of Massy Financial Services Ltd, a division of Massy Holdings Ltd.

The company is also licenced by Central Bank to conduct cambio services.

Under MoneyGram, the company operates in four countries including TT, Guyana, St Lucia and St Vincent and the Grenadines.

"The company is now registered to conduct the issuance of e-money accounts, cash-in, cash-out, provision of payment services and money transfer or remittances," said Central Bank, adding that it will continue to monitor the company's operations and regulatory compliance with legislation and guidelines governing e-money.