The software industry is developing applications to take advantage of the high level of mobile phone ownership in Latin America.
In Panama, Cable & Wireless is testing applications to provide mobile banking services to its customers, stated Roberto Mendoza, corporate director of the company.
Source: Prensa.com
More on this topic
April 2012
The National Electronic Payments System will assign a customer account number to each cardholder for making interbank payments and collections.
This possibility will be effective from July 1st, when the National Electronic Payments System (SINPE) will enable the service. With the assignment of a customer account number (‘cuenta cliente’ or CC in Spanish) to credit cards, customers may make payments and collection transactions using the interbank payment instrument.
February 2010
It enables real time banking transactions between accounts at different financial entities.
It is called LBTR, a Spanish acronym for Real Time Settlement System, and will be operated by the Central Bank of El Salvador (BCR).
Carlos Acevedo, president of the Bank, told Laprensagrafica.com: “The stock exchange may also connect to the system, as well as the Treasury.
June 2011
The proposal to tax all banking transactions has been strongly rejected.
The government aims to create $79 million to combat insecurity, which would be financed in part with proceeds from a tax of 0.2% on all transactions carried out in banks.
Industry representatives believe that this measure is excessive and that not all transactions should be taxed, as the financial cost to businesses would be very high.
January 2011
Since January 1st, new regulations are in place for transactions over $3,000.
These regulations require individuals and companies to provide documentation for each transaction over $3,000. Said papers will be stored by the bank in a file.
“These include an affidavit in which the customer assures the legitimacy of the funds and declares that its origins are legal”, reported Prensalibre.com.
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