E-money is a national strategy, created by the Ecuadorian government, for financial inclusion that facilitates access to lower-cost financial services to the citizens and with 100% interoperability, improving the quality of life, reducing poverty indicators, and among other benefits, it also allows the government to grant nanocredits and to focus subsidies.

The E-money system managed by Banco Central del Ecuador (BCE) is a payment method that allows citizens to make secure and reliable online transactions, through cell phones without the need of Internet access or a bank account.

National legislation states that Ecuador must tend, in one hand, to consolidate social solidarity and a reliable economic system in a sustainable manner. In the other hand, to develop an efficient and alternative payment system. This will help with the economic and social inclusion and growth of millions of citizens, strengthening public finances and the economic system regulation. In this context, Banco Central del Ecuador (BCE) developed a new mechanism to strengthen the use of electronic and alternative payment.

http://www.dineroelectronico.ec/

• Ecuador