CWC Launches Panama’s First Mobile Money Service

Tuesday, May 13, 2014

Cable & Wireless Panama (CWP) has launched MovilCash, Panama’s first mobile money service.

Mobile financial services have proven popular in a number of countries, enabling people with and without bank accounts to benefit from greater security, convenience and access to their money by using their mobile handset as a payment mechanism.

MovilCash allows any customer of CWP’s +Movil mobile service to use their mobile handset as an electronic wallet which can transfer money, top-up credit and purchase goods and services.

One of the first services to adopt MovilCash is Panama’s highway toll company, ENA. Customers will be able to pay for toll roads using their mobile phones.

Jorge Nicolau, Chief Executive of Cable & Wireless Panama, said: “In a country of rapid growth such as Panama this service will also provide a safe and easy financial services alternative to customers with or without access to banking services.”

Source: Developing Telecoms (link opens in a new window)