Curbing bank card transaction fees was a key outcome of the second meeting of the National Payment Council (NPC). The transition to MasterCard and Visa debit cards has led to point-of-sale (POS) and automated teller machine (ATM) transactions not always being processed as local, resulting in higher transaction fees.
To ensure secure and efficient payment processes, it is crucial to standardize the configuration
of POS machines and ATMs in the short term. In addition, the NPC is committed to addressing
bank card transaction fees through the payment network. To this end, a subcommittee will be
established in early 2025 to discuss the issue and develop specific recommendations.
During the December meetings held in Sint Maarten and Curaçao, discussions also focused on
other payment-related issues, such as payment fraud, the introduction of the Caribbean Guilder,
and the continued development of instant payment functionalities.
New forms of payment fraud are on the rise. While credit card fraud was once the primary
concern, direct payments via payment links and QR codes, for example, now pose new risks to
users. NPC participants agreed on the importance of education, especially to preserve trust in
innovative payment methods. At the initiative of the CBCS, the possibility of a joint information
campaign will be mapped out.
Developments in Instant Payment were another key topic of discussion. This technology now
enables real-time processing of local payments and offers additional applications, such as
cardless payments for online and in-store transactions, as well as international transfers between
the Countries, Bonaire, Aruba, and the Netherlands. The NPC remains actively engaged in
supporting and closely monitoring these advancements.
