Payment methods in Bahamas

North America

4methods

2banks

Sand Dollar was the world's first retail CBDC deployed at national scale (October 2020).

Market takeaways

Sand Dollar was the world's first retail CBDC deployed at national scale (October 2020).
Over 100,000 mobile phone-based Sand Dollar wallet accounts exist across the Bahamas.
1,500+ businesses have merchant access to Sand Dollar through licensed payment service providers.
Person-to-business and B2B Sand Dollar transactions totalled US$4.5 million in November 2023.
The Bahamian dollar is pegged 1:1 to the US dollar, providing currency stability.

Population

0.4M

Online population

~0.35M

Banked population

~85%

Credit card population

~40%

Payment method breakdown

Card55%
Bank Transfer20%
Cash15%
CBDC (Sand Dollar)5%
E-Wallet5%

Card scheme breakdown

Visa50%
Mastercard40%
American Express8%
Local Schemes2%
Other0%

Cross-border e-commerce

Market data coming soon.

Featured payment methods in Bahamas

Popular options based on coverage and prominence in this market.

American Express

American Express is widely accepted in tourism-oriented businesses, upscale hotels, and restaurants in the Bahamas, reflecting the high proportion of US visitors. It occupies a meaningful niche in the premium consumer and business travel segment.

Visa / Mastercard

International card schemes are the primary payment method for the Bahamas' tourism-dominated economy. Banks such as Commonwealth Bank, Bank of the Bahamas, and RBC Royal Bank issue Visa and Mastercard debit and credit cards. Card payments are universally accepted in Nassau, Freeport, and major resort areas.

Sand Dollar (CBDC)

Sand Dollar is the digital version of the Bahamian dollar, issued by the Central Bank of The Bahamas through authorised financial institutions (AFIs). Users access Sand Dollar via iOS and Android mobile apps or a physical payment card linked to a digital wallet. The CBDC operates 24/7, enables instant P2P and P2B payments, and is designed to reach underserved island communities without traditional bank branches. Over 100,000 wallet accounts are active, with 1,500+ businesses enrolled in merchant services.

BCB eSolutions / Bank Transfer

BCB eSolutions (Bahamas Cooperative Credit Union eSolutions) and major commercial bank online banking platforms facilitate electronic fund transfers. ACH-based transfers are used for bill payments, payroll, and larger transactions, forming a significant layer of the payments infrastructure alongside card schemes.