Ecuador backs national mobile wallet
Wednesday, October 22, 2014
In an unusual move, Ecuador is reportedly building its own mobile wallet to boost financial inclusion, without the involvement of the country’s operators or banks.
The country’s central bank will be both owner and operator of the wallet which is currently being pilot tested, according to Payments Views.
The project wants to enable an ambitious range of services including P2P money transfer, top-ups, B2B payments, cashing in and out of the wallet, as well as in-store purchases.