Ecuador: E-currency currently being tested through November by Central Bank

Posted on November 19, 2014 • Filed under: Ecuador

telecompaper.com reported according to Elcomercio.com that there are 600 individuals involved in a pilot program using emoney services in Ecuador. Currently there are 7,000 locations accepting such services including banks, supermarkets, cooperativas, and retail establishments. Movistar cell phone users will provide subscribers access to e-money services. The Central Bank has stated that users will be able to purchase goods and pay for services on mobile phones by using funds in virtual accounts. Claro cell phone service is also expected to join the project. Full implementation of the program should begin in December of 14′. Read Article

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