Digital Banking

Wallet Factory, Belize Bank build mobile payment platform

Image courtesy of iStock

March 31, 2021

The Wallet Factory, a platform for mobile financial services, is partnering with the Belize Bank Limited to build a mobile payment ecosystem for end-users, merchants, and retailers.

The collaboration's goal is to improve financial services in the Central American and Caribbean regions by providing services to the unbanked customers via E-kyash, a digital wallet solution from Belize Bank.

"Wallet Factory is primarily based on three principles: secure, beneficial, and innovative, Volodymyr Budanov, chief delivery and product officer of the Wallet Factory, said in a company press release. "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."

Launching in April, E-kyash will offer:

• Quick registration as no bank account is required.
• Support for business-to-customer and business-to-business payments.
• Users to make quick response-based payments.
• Payment of public utility bill .
• Ability to fund wallet balance via cash payments at retail operators.
• Salary payments to be paid directly to employees' E-kyash wallets.