Wallet Factory and Belize Bank to build a mobile payment platform and digital wallet in Belize
March 29, 2021 – Wallet Factory, an enterprise-grade platform for up-to-date mobile financial services, announced an agreement with The Belize Bank Limited (BBL) to build a fully-functional mobile payment ecosystem for local end-users, merchants, and retailers.
The mission of the collaboration lies in the improvement of financial services in the Central American and Caribbean regions. According to the United Nations survey, these regions lack robust digital instruments and mechanisms for improving financial insertion rates. The Wallet Factory and Belize Bank collaboration aims to push the boundaries for unbanked customers in the region by offering a brand new digital wallet solution, E-kyash.
The release of E-kyash, which is slated for April 2021, is just the first step of a long-term partnership. The main objective of E-kyash is to lead the financial inclusion strategy across Belize by proposing an easy-to-use and convenient solution for end-users and merchants to perform daily transactions.
Agata Ruta, Head of Digital and Retail Banking at Belize Bank:
“We always welcome improvements and innovations which aim to provide our clients with the best services corresponding to international digitalization trends. Our collaboration with Wallet Factory may start a new era for Central America, making mobile financial services more convenient, effective, and secure”.
The E-kyash mobile wallet application offers end-customers and merchants the following benefits:
- Allows for quick registration as no bank account is required
- Supports both Business to Customer and Business to Business payments
- Enables users to make QR (Quick Response)-based payments
- Enables public utility bill payments
- Enables the convenience of funding wallet balance via cash payments at retail operators
- Allows for salary payments directly to employees E-kyash wallet.
Wallet Factory is credited with many years of experience in the mobile payment solutions sector. As such, the company’s hands-on expertise in building high-efficiency e-money processing mechanisms across MENA and LATAM countries will surely help Belizean users to leverage the benefits of this new convenient and safe e-wallet application.
Volodymyr Budanov, Chief Delivery and Product Officer at Wallet Factory:
“Wallet Factory is primarily based on three principles: secure, beneficial, and innovative. The Latin American market suffers from low access to financial services, including bank accounts. Hence, end-users face problems on an everyday basis. Our collaboration with Belize Bank, the leader in innovative market solutions in Belize, aims to simplify the way people buy goods and services.”
Wallet Factory’s mission lies in providing the world with digital wallet businesses and creating brand new FinTech solutions across the globe. With more than 15 years of experience, the team is ready to enhance the financial level of mobile operators, retailers, banks, and other institutions.
The Belize Bank Limited is a full service commercial banking operation in Belize providing a range of banking and financial services to both domestic and international customers. The Belize Bank Limited carries a tradition of excellence in service as the first and oldest continuous banking operation in Belize.