BCE connects to Claro service for electronic money transactions

This September 25, the Central Bank of Ecuador (BCE for its Spanish acronym) and the Claro telephone service signed a connection agreement to implement the use of electronic money in the country.

Mateo Villalba, Manager of the BCE, highlighted the agreement with Claro, because it is a company with a large market participation, which will allow reachingout to more people.

The purpose of electronic money, he said, is to include the largest number of people to facilitate the financial transactions. It is expected that the number of users is increasing, as the new product is known.

“To use electronic money it is only required will and to have the cell phone service active… Users do not need to have an account in the Central Bank,” Villalba said. “If you know how to use the phone to send text messages, then you already know how to use electronic money.”