3 November 2017
Interoperability and Interconnectivity of Electronic Payment Methods and Financial Inclusion in Paraguay
There are more than two million electronic money accounts registered through licensed electronic money issuers; only 64,000 are linked to bank accounts.
The purpose of this case study is to share the Paraguayan experience with digital financial services, which began with the launch of money remittances by mobile phone operators in 2008. Although the Paraguayan experience is considered a successful one, it was specifically influenced by the economic situation in the country over the last 10 years. We hope that some of the lessons learned and features drawn from the local experience may be useful for other countries facing similar challenges. Download this case study to find out:
- the economic situation in Paraguay when mobile phone operators launched local remittances and the retail payments service
- the policies introduced by Banco Central del Paraguay to regulate remittances and electronic payments
- the challenge faced by electronic payment service providers to increase the use of electronic money accounts
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