Central Bank of Ecuador Mobile Wallet

This is to facilitate financial inclusion as 103% of population have mobile phones, but majority does not have access to a bank account. The Ecuadorian mobile financial services project will provide all inhabitants with a mobile wallet for storing, sending and receiving money. The system will operate throughout the entire country, using cellular service from any one of the three mobile network operators present in Ecuador, and can integrate all financial institutions as they are already connected to the Central Bank of Ecuador.

Service users will be able to receive money or pay for taxi services, as well as make small payments in pharmacies, supermarkets.

The project will evolve to integrate with the new national ID system to enable the new contactless and intelligent national ID card as a method of payment funded from the mobile wallet. For this project, Utiba Americas will provide the Utiba Mobility mobile financial services platform on a hosted basis, which will allow the Central Bank to focus on the design, deployment, and testing of services, as well as the commercial coordination for the successful launch of each of them.