Mobile money use surges in Bolivia

8 Jan 2016

The Central Bank of Bolivia (BCB) has announced that the volume of mobile money transactions in the country rose more than 900% for the first ten months of 2015 compared to the same period a year earlier. 16.4 million transactions were recorded between January and October 2015, up from just 1.5 million a year earlier. The value of transactions rose 197% over the same period to BOB645 million (USD93 million), Telesemana reports the bank as saying. The bulk of mobile money transactions in Bolivia are carried out by payments firm E-fectivo, which is used by two of the country’s three cellular network operators, Tigo and Viva/NuevaTel.