It started off in 1993 when five major banks came together to develop T&T's first major electronic payment system. Today Infolink Services Ltd, the company behind the widely used Linx debit cards, is worth over $400 million in assets, switches more than 40 million transactions annually, settles more than $11 billion per year and is deemed a critical payment system by the Central Bank of T&T.
These facts were highlighted by InfoLink chairman Avril Edwards when she spoke at a function to celebrate the 20th anniversary of Linx at the Hyatt Regency in Port-of-Spain on Thursday evening.
Edwards described as financial visionaries the members of InfoLink's first board–Ronald Harford (RBL), Garvin Akeung (Bank of Commerce), Ian de Silva (Scotiabank), Larry Howai (First Citizens) and Hamish Smith (Royal Bank).
"These men saw beyond the boundaries of their own organisations to create an electronic payment system that would benefit the country," she said.
Edwards, the first woman to hold the position of chairman in the company, said the Linx network ios now fully redundant and InfoLink hosts a warm disaster site for all of its systems to ensure continuity of the network and all other business activities.
She said: "InfoLink is much more than just the Linx network. It plays a major role in the electronic payment space and is acknowledged as a facilitator of electronic payments and out advice is sought by many e-payment hopefuls inquiring about the T&T payment space."
InfoLink general manager Glynis Alexander-Tam said it had taken 20 years of hard work to get the company to the stage of 24/7 accessibility with almost 100 per cent reliability.
"Technology is moving apace. Linx is operating in an environment where a myriad of payment options are becoming available and affordable and where cash is still king in certain parts, so it is incumbent upon those of us behind the brand to continue exploring and initiating creative ways to ensure its relevance in today's world," she said.
Alexander-Tam added: "These are exciting times for Linx. A new age is dawning in the electronic payments world and the brand Linx has all the right ingredients within the company that is InfoLink to propel it into a future where many things ascribe to be the new norm."
