A Bermuda‑based fintech firm, Bermuda Digital Commerce Ltd, has received a testing licence from the Bermuda Financial Services Commission (FSC) to pilot its innovative payments platform, the company announced on Tuesday. The licence, granted under the FSC’s newest regulatory framework for emerging payment technologies, allows the firm to conduct sandbox trials with a limited number of users and partner banks across the island.

The platform, branded as BermudaPay, is designed to streamline point‑of‑sale transactions for local merchants and integrate with both traditional banking and digital wallets. According to the company’s CEO, Jillian Reyes, the system will enable real‑time settlement between local retailers and international merchants, reducing the need for costly cross‑border intermediaries. The FSC praised the project for its potential to enhance Bermuda’s reputation as a forward‑thinking financial centre.

Bermuda Digital Commerce plans to launch a limited pilot next month, working with a select group of retail outlets and a regional bank. The firm also intends to collaborate with the Bermuda Tourism Authority to explore contactless payment solutions for hotels and visitor attractions. By fostering local innovation, the licence is expected to create new jobs and support the island’s broader economic diversification strategy.