The Rise tax can be paid with electronic money

The Internal Revenue Service (IRS for its Spanish acronym) announced yesterday that taxes generated by the Ecuadorian Simplified Tax Regime (RISE) will be paid with electronic money. This is the first initiative to pay taxes through this online mean. The SRI reported that the...

Electronic cash system can be used for payments in taxis

The Central Bank of Ecuador (BCE for its Spanish acronym) signed a cooperation agreement on February 3, for the implementation of the electronic system in more than 60,000 units of taxis throughout the country. Its use is not mandatory. Each taxi unit will have a identification...

BCE registers 6,856 virtual accounts of electronic money

A total of 6,865 subscribers opened their electronic money virtual accounts at national level in the Central Bank of Ecuador (BCE for its Spanish acronym). This was reported by the entity, which also confirmed that in mid-February the first real transactions will be made. The BCE...

Electronic money: 161 accounts are opened in two days of its operation

On the second test day for the operation of electronic money, the Central Bank of Ecuador (BCE for its Spanish acronym) reported that a total of 161 accounts were opened and already achieved major transactions such as payments and recharges of money with this financial system....

Field testing on electronic money initiates

Today starts the field test of electronic money, as stated the Manager of the Central Bank, Mateo Villalba. Efraín Vieira, executive of the Pacific Bank,saidthat everything is ready for the test, which will be performed in two agencies in Quito and Guayaquil. Those chosen for the...

Electronic money plan pilot will start with 600 customers

The Financial Regulatory Board approved on November 6 the costs of electronic money operations, while the pilot plan of the system is already underway. The plan will serve to measure the effectiveness of the technology platform developed by the Central Bank of Ecuador (BCE for...

ECB postpones pilot plan to use electronic money

The pilot plan for electronic money, that the Central Bank of Ecuador (BCE for its Spanish acronym) announced it would begin today, was postponed for a few days. Last Friday, the ECB reported that tests on macroagents (shops and financial institutions where transactions can be...
Posted On 27 Oct 2014

Rates for electronic money transactions must be approved

The Central Bank of Ecuador (BCE for its Spanish acronym),  developed a rate proposal for six types of transactions with electronic money. Three of them would be free, according to the approach that shall be approved by the Monetary Adjustment and Policy Board. In a statemen...