Utiba Americas Wins Mobile Wallet Project From Central Bank of Ecuador
Published on: 28th Mar 2011
Note -- this news article is more than a year old.
Mobile banking service provider, Utiba says that it's local joint venture subsidiary has won a contract to provide a hosted mobile wallet project for the Central Bank of Ecuador. The mobile financial services project will provide all residents in the country with a mobile wallet for storing, sending and receiving money.
The system will operate using cellular service from any one of the three mobile network operators, and can integrate all financial institutions as they are already connected to the Central Bank of Ecuador.
"The mobile money project is a key initiative for the Government of Ecuador to accelerate financial inclusion and we are pleased to have Utiba Americas as our technology partner to enable this project," mentioned Santiago Vasquez, Central Bank of Ecuador's Mobile Financial Services Program Director.
The project will evolve to integrate with the new national ID system to enable the contactless national ID card as a method of payment funded from the mobile wallet.
"Once we understood the full vision of the Central Bank of Ecuador and their plan to use mobile money as a catalyst for financial inclusion of all segments of Ecuadorian society, we were eager to take part and to lend our global deployment experience and the unique capabilities of the Utiba Mobility platform," said Jesus Luzardo, Utiba Americas' Vice President of Sales.