Cuba to launch m-banking services
After piloting a program for 20,000 users, Cuba will launch a mobile banking service next year.
Designed by state-run telco Etecsa and Banco Metropolitano, the service allows users to transfer money between accounts, pay utility and telephony bills, and check banking and card balances. An updated version will include a feature to pay taxes online, according to local media reports.
Subscribers must have a smartphone equipped with an Android operating system and a credit card account from Banco Metropolitano, Banco Popular de Ahorro, or Banco Crédito y Comercio.
According to Alberto Quiñones, director of ICT services at Cuba's central bank, there are 3.8mn active credit cards on the island. Quiñones added that the goal is to reach 7mn issued credit cards, without specifying a deadline.
Cuba reported 4.3mn mobile phone lines and 4mn people with internet access in July.
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News in: Political Risk & Macro (Cuba)
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