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Ecuador launched its electronic money system
Posted On 26 Dec 2014
Ecuador launched on Wednesday, December 24 the electronic money system that allows to make transactions through cell phones.
The program will facilitate users to make payments through mobile phones, with a previous payment in dollars, this process will be accomplished in three stages. The first started on Wednesday with a free customer register.
“Since this date from mid-February 2015, in the second phase, transactions will be initiated for loading, unloading, sending money to people, payments in stores, balance checking and bank transfers,” the Central Bank of Ecuador said in a statement.
The last stage will start in the second half of 2015 with the addition of transactions in public services such as tax payments.