The Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. Link to external site : Website for Ecuador |  |
| Wallets | |
| Development | Developing |
| Send or Receive |
Receive Register/Log In |
| GDP ($m) |
44,489.92 Register/Log In |
| HDI classification | High |
| Mobile Connections (m) |
17.017 Upgrade to Bronze |
| Currency | USD |
| Class | |
| CountryISO | EC |
| Sovereignity | Country |
| Territory of | - NA - |
{"type":"GeoChart","data":[["Country","Population(m)","Rank"],["EC",13.34,66]],"options":{"title":"Countries","region":"EC","displayMode":"regions","colorAxis":{"minValue":0,"maxValue":1500,"colors":["yellow","green","red"]}}}
{"type":"PieChart","data":[["Operator","Connections"],["Claro (America Movil)",11797782],["Movistar (Telef\u00f3nica)",4888888],["Alegro (Telecsa)",330000]],"options":{"title":"Connections","is3D":true}}
{"type":"ColumnChart","data":[["Year","Connections"],["Q4 2000",473556],["Q4 2001",827400],["Q4 2002",1555000],["Q4 2003",2356804],["Q4 2004",3555356],["Q4 2005",6208552],["Q4 2006",8503953],["Q4 2007",9966730],["Q4 2008",11729839],["Q4 2009",13527700],["Q4 2010",15133535],["Q4 2011",16431212],["Q4 2012",17448561],["Q4 2013",12505943],["Q4 2014",12804972]],"options":{"title":"Connections"}}
| Channel Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["ATM",1],["Mobile",2]],"options":{"title":"Initiatives ( 2 of 2 )"}} |
| COT Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Bank",2]],"options":{"title":"Initiatives ( 2 of 2 )"}} |
| Persona Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["MT",1],["MW",1]],"options":{"title":"Initiatives ( 2 of 2 )"}} |
| Products |
{"type":"ColumnChart","data":[["Category","Initiatives"],["AT",1],["BB",1],["BP",1],["DAT",1],["DMT",2],["IMT",2],["MB",1],["MP",1],["MW",1]],"options":{"title":"Initiatives ( 2 of 2 )"}} |
| PI Analysis |
{"type":"ColumnChart","data":[["Category","Initiatives"],["Account",2],["Card",1],["Cash",1]],"options":{"title":"Initiatives ( 2 of 2 )"}} |
| Central Bank | |
| Key Regulations | |
| Type of law |
Civil Upgrade to Bronze |
| Legal System |
Civil law based on the Chilean civil code with modifications Upgrade to Bronze |
| Law is based on |
Civil code introduced in 1861. Nearly faithful reproduction of the Chilean civil code Upgrade to Bronze |
| Approach |
Ex Ante Upgrade to Bronze |
| Sectors active in Digital Money | |
| Exclusivity | |
| Certainty | |
| Openness | |
| Proportionate? | |
| Allowed Models |
Bank Led Upgrade to Bronze |
| DominantModel |
Bank Led Upgrade to Bronze |
| E-Money | |
| Payment | |
| Agent |
New reg in 2008 allows banks to have agents. Banco de Guayaqyuk opened more than 420 in less than 1 year Upgrade to Bronze |
| Money Transfer | |
| Taxation |
{"type":"Gauge","data":[["Label","Value"],["Mobile Penetration",98.91],["Banked",35],["Internet",12],["Urban",65],["Adult",68],["Literate",84.19272288]],"options":{"scaleHeight":0.5,"min":0,"max":100,"redFrom":76,"redTo":100,"yellowFrom":26,"yellowTo":74}}
| Population m | 13.34 |
| Adult % | 68.00 |
| Migrants % |
1.00 Register/Log In |
| Stock Immigrants ('000) |
393.60 Upgrade to Bronze |
| Emigration Rate % | |
| Internal Migrants ('000) |
2,400.00 Upgrade to Bronze |
| Internal Migration Rate % |
20.20 Upgrade to Bronze |
| Intl Movement Rate % | |
| Urban % | 65.00 |
| Female % | 49.10 |
| Literate % | 84.19 |
| Annual Growth % |
| Mobile Penetration % | 98.91 |
| Banked % | 35.00 |
| Access to FS % | 35.00 |
| Internet % | 12.00 |
| Branches per 100k adults | 2.98 |
| ATMs per 100k adults | 26.01 |
| POS per 100k adults | 0.00 |
| Prepaid % | 87.40 |
| Prepaid SIM Registration | |
| MobileUnbanked (m) | 8.58 |
| Monthly ARPU | |
| Cards 2010 ('000) | |
| Propensity % |
| Overall | |
| Population | |
| On Remittance Sent | |
| On Remittance Received | |
| Mobile Unbanked | |
| Migrant % | |
| MP % | |
| Banked % | |
| Development |
| Can Provide Payments? | |
| Can Market under Brand? | |
| Can issue E-Money? | |
| Can Open Customer Account? | |
| Can Own Customer? | |
| Can do Cash In/Cash Out? | |
| Can offer Domestic Money Transfer? | |
| Can offer International Money Transfer? |
| Importance for Digital Money | |
| Digital Money Adoption |
Long Term Upgrade to Bronze |
| Registered Wallet Users | |
| Top Wallets | |
| Informal Market | |
| Cost To Remit | |
| Key Players |
Movistar Trivnet Upgrade to Bronze |