PARAMARIBO — The Central Bank of Suriname (CBvS) and the Surinamese Bankers Association (SBV) have put the first phase of the modernized Suriname National Electronic Payment System (Sneps) into use. With the introduction of Sneps Fast Payments, transfers between different commercial banks within office hours will now be processed significantly faster, the CBvS reports.
Since 2015, Sneps has served as the national infrastructure for electronic payment transactions between the Surinamese government, local banks and other financial institutions. Where an interbank transaction previously took one or more working days, the new update ensures shorter processing times. According to the initiators, mobile and online banking better meet the growing demand for digital financial services and offer both private individuals and companies more convenience.
“Where an interbank transaction previously took one or more working days, the new update ensures shorter processing times”
The renewal is the result of a joint process under the direction of the CBvS and in collaboration with the SBV, which represents the local commercial banks. The project has not yet been completed with this first delivery. The next phase aims to further optimize the payment infrastructure by the end of 2026. The ultimate goal is for interbank transfers to be processed within 15 minutes at the latest, 24 hours a day, seven days a week.
