The Democratic Labour Party (DLP) has urged greater transparency, public oversight and clear safeguards for personal data even as it welcomed the new national payment platform, BiMPay, warning that modernisation must be matched by accountability.

In a statement on Thursday, shadow small business and entrepreneurship minister Jason Phillips said innovation in the financial industry should be embraced, but citizens also have a right to understand how new systems operate and how their personal information is protected.

“Like many Barbadians, I welcome innovation that makes financial transactions faster, easier and more convenient,” Phillips said, noting that BiMPay has been presented as a significant advancement in the country’s payments infrastructure.