VIVA Bolivia has sealed an important alliance with leading credit banks in the country, BCP and the BNB to provide its technology platform to power a mobile wallet service, as part of its effort to promote financial inclusion and to expand the coverage of banking services in the country.
VIVA Bolivia reported that its new technology platform NuevaTel, dubbed as 'VIVA Solutions' was developed exclusively for electronic money transactions through affiliated banks. Customers who receive e-money loaded on their phones can turn the electronic money into cash at any points authorized by the two banks or re-transfer it to another mobile point. The mobile wallet service is expected to provide a secure and easy means for instant money transfer.
According to an executive of BNB, the electronic money transfer through mobile wallets will expand the coverage of BNB services to thousands of Bolivians.
