Revolut and PayPal Pass on St. Maarten… And That Says a Lot
Hey FinTech Fanatic!
This morning in Curaçao, I started the day the way I often do lately. Early sun. Coffee outside… A deep scan of the headlines before jumping into meetings.
As you may know, the Caribbean operates with a very specific financial dynamic. Strong tourism flows. Cruise traffic. Cross-border money movement. Multiple currencies. Heavy dependence on external banking infrastructure.
So certain headlines don’t feel abstract when you’re physically closer to them. And, to me, this is a news story that exemplifies that well.
Revolut and PayPal have both indicated they are not entering St. Maarten 🇸🇽.
According to the Central Bank of Curaçao and St. Maarten, Revolut sees the market as commercially non-viable at this time.
CBCS President Richard Doornbosch was clear: “The answer is yes, we have spoken with them… and the answer was no.”
Too small relative to compliance and licensing costs. Focused instead on larger jurisdictions where scale already justifies the effort. PayPal reached a similar conclusion. The island’s economic impact simply wasn’t attractive enough to pursue a license.
On paper, that may sound surprising. Tourism is strong. The region is international. Money moves constantly.
But FinTech math is unforgiving. I’ve experienced this firsthand over the years while searching for solid neobanking solutions in the region. This creates a tension that goes beyond St. Maarten. Financial inclusion ambitions.
What's your take?
Check below how the ecosystem continues to evolve in the FinTech industry. 👇🏻 Tomorrow, I'll connect more dots for you about the sector!
Cheers,
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🇸🇽 Revolut and PayPal are not interested in the St. Maarten market due to its size. According to the Central Bank of Curaçao and St. Maarten, Revolut said the market is too small relative to compliance costs and that its focus remains on larger markets, while PayPal also considers the market economically unattractive.
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