Fausto Valencia talks on electronic money

Imagen: El Telégrafo

In an interview with El Telegrafo daily, Fausto Valencia, director of the Electronic Money Project of the Central Bank of Ecuador (BCE), clarifies doubts about the system.

Valencia mentions that there are over 43,000 e-money accounts in the country, and to date there are about $ 600,000 in electronic money in the system, which circulates between agents and citizens who are conducting transactions. He also assured that the circulating money is backed with highly liquid assets held by the entity.

He explains that transactions that are in the introduction process are recharges to have electronic money into their accounts and make payments. The most common are balance checks and password changes.

The official reports that 40% of the economically active population has no access to a bank account and they expect to venture with electronic money. His long-term goal is that in five years there are 4 million users.

Click on the link below to read the full interview: http://www.telegrafo.com.ec/economia/item/nuestros-nietos-ya-no-van-a-utilizar-billetes-solo-los-van-a-ver-en-museos.html

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