# Marshall Islands — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/MH
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **USD currency** US dollar used
- **Remittances** 12% of GDP
- **Limited banking** infrastructure
- **US association** Compact state
- **Development** stage payments

## Banking landscape

### Central Bank
- **Name:** Banking Commissioner (no central bank)
- **Currency:** Uses US Dollar
- **Role:** Financial regulation

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Bank of Marshall Islands | State | Limited |
| 2 | Bank of Guam | Regional | BOG App |

### Market Structure
- **USD economy:** Dollarized
- **Compact state:** US relationship
- **Limited banking:** Few services
- **Remittance dependent:** 12% GDP

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Bank transfers | Banks | Wire | Limited |
| Card networks | Visa/MC | Cards | Limited |
| Remittances | MTOs | International | Active |

### Infrastructure Status
- USD currency simplifies transfers
- Limited local payment innovation
- Remittances significant
- US financial system access

### Compact Association
- Free association with US
- US postal service
- US financial access
- Defense relationship

---

## QR code standards

### QR Payment Status

| Attribute | Value |
|-----------|-------|
| **Standard** | None |
| **Adoption** | Minimal |
| **Infrastructure** | Limited |
| **USD** | Simplifies transfers |

### Current Reality
- No national QR standard
- USD transactions simple
- International cards work
- Future development potential

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Limited | Various | No | Basic |

### Remittance Focus
- 12% of GDP from remittances
- US diaspora transfers
- Money transfer operators
- Wire services active

---

## Schemes

_No active schemes extracted. The country's report may list only generic categories (cards, cash, etc.) or mark all entries as None/N/A._

## Sources

- [IMF - Marshall Islands](https://www.imf.org/en/Countries/MHL)
- [MoneyMatrix - Marshall Islands](https://moneymatrix.com/country/marshall-islands/)
- [Migration Data Portal](https://www.migrationdataportal.org/regional-data-overview/oceania)

## Full country report

[MH-marshall-islands.md](https://docs.barcoder.ai/docs/payments/MH)