Ecuador's Central Bank and Movistar Ecuador have signed an agreement under which Movistar's subscribers will be able to access e-money services, La Hora reports. The platform to enable e-money transactions is still under development. According to the report, Movistar expects to launch e-money services for its subscribers by the end of the year. The Central Bank's general manager Mateo Villalba said users will be able to buy goods and pay for services through mobile phones using funds from virtual accounts. Villalba said that state-run telco CNT is already part of the initiative. The Central Bank also expects to add mobile operator Claro to this e-money project, according to the report.
