Payment methods in Grenada

North America

4methods

1bank

Grenada was the location of the world's first successful DCash CBDC consumer-to-merchant transaction (February 2021).

Market takeaways

Grenada was the location of the world's first successful DCash CBDC consumer-to-merchant transaction (February 2021).
Payment System and Services Act, 2025 passed into law, modernising the regulatory framework.
XCD pegged to USD at 2.7:1 since 1976, providing currency stability.
Tourism-driven economy with strong card acceptance at tourist-facing businesses.
WiPay operates as regional payment infrastructure provider for Eastern Caribbean merchants.

Population

0.113M

Online population

~0.08M

Payment method breakdown

Cash55%
Card35%
Bank Transfer7%
CBDC (DCash)2%
E-Wallet1%

Card scheme breakdown

Visa50%
Mastercard42%
American Express7%
Local Schemes1%
Other0%

Cross-border e-commerce

Market data coming soon.

Featured payment methods in Grenada

Popular options based on coverage and prominence in this market.

Bank Transfers

Commercial banks in Grenada offer internet banking platforms for interbank transfers and bill payments within the ECCB's regional payment framework. Electronic transfers are used by businesses and formally employed consumers for larger payments.

Visa / Mastercard

International card schemes are the primary electronic payment method in Grenada, issued by Republic Bank Grenada, CIBC FirstCaribbean, Scotiabank, and Grenada Co-operative Bank. Cards are widely accepted in the tourism sector, hotels, restaurants, and larger retail merchants. Contactless payments are increasingly available.

WiPay Eastern Caribbean

WiPay provides Grenada's merchants with access to online card payment processing, QR payment acceptance, and payment link generation. As part of its 12-country Eastern Caribbean operations, WiPay enables Grenadian businesses to accept card payments both online and in-store, supporting growth of local e-commerce.

DCash (ECCB CBDC)

DCash is the Eastern Caribbean Central Bank's retail CBDC, with Grenada hosting the world's first successful DCash consumer-to-merchant transaction in February 2021. Grenada has been a leading participant in the ECCB's digital currency initiative. After the pilot closed in January 2024, the ECCB is developing DCash 2.0 for full commercial deployment across all ECCU member states.