Mobile Banking Growing in Central America

To date, about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica offer the service; there is still much ground to cover in the region.

Thursday, March 29, 2012

The director of Technology at the company Ebclosión, Derick Brol, indicates that in Central America in 2011 there were mobile phone banking services in about 8 banks in Guatemala, 4 in El Salvador and 3 in Honduras, Nicaragua and Costa Rica. The services offered include balance inquiries, transactions between own accounts and blocks.

According to in Guatemala, where the use of this service is more widespread than in other countries, mobile payments are offered by the Banco Industrial (BI), G & T and BAC. Others, such as Reformador, BAM, Bantrab, and Internacional offer balance inquiries, transactions and blocks.

The chairman of the Committee of Software Export (SOFEX), Edgar Santos, indicates that mobile banking is beneficial in terms of safety, since each time a transaction is made by credit or debit card the user receives a notification, thereby reducing electronic fraud by cloned cards.

As for safety, in case of theft of a cell phone, there is no problem, as balance inquiry messages and other data are not stored. Information on the phone is encrypted, adds the article.

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Guatemala: Payments Using Cell Phones and Cards

April 2012

Visa Payments and Transfers is a system that allows transferring funds or making payments from cell phones using debit or credit cards.

Visa Inc. has developed a technology for making payments and debit card and credit transactions from phones that will be used in Guatemala for the first time in Latin America.

Mobile banking grows in Guatemala

December 2008

National banks have that offer mobile services to their clients have seen the number of users of the new service grow this year.

The Industrial and Agromercantil Banks have been trying to get more customers to use their cellular phone to pay bills and check their balances.

$120 million in Financing for Cell Towers

July 2012

The Guatemalan company Continental Towers will receive funding from the International Finance Corporation to build and maintain cell towers in Central America.

According to an article in, "The IFC's investment includes a loan of $40 million and a syndicated loan of $80 million with Banco HSBC Panamá, Banco General de Panamá, the Dutch Entrepreneurial Development Bank (FMO) and the Inter American Corporation for Infrastructure Financing. "

Panamanian Banks to use mobile networks

July 2008

The banking transactions normally done from the bank desk or the computer, could soon be done with a mobile phone.

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.

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