The National Bank of Belize (NBB) has solicited the expertise of Barbados-based financial technology firm Bitt to create and launch a digital wallet that will complement the bank’s mobile banking services.
“NBB is licensing a digital currency infrastructure from Bitt to support retail and business users’ access to simple secure and efficient payment solutions as they recover from the global economic crisis,” a release from the Government-owned bank stated.
The NBB reportedly plans to have a soft launch of the NBB Pay eWallet in early 2021, followed by a roll-out to all customers and businesses around mid-2021. With the e-wallet, users can conduct customer-to-customer, business-to-business, customer-to business transfers, or vice versa, as well as pay bills. This partnership with Bitt comes at a time when the entity is working with the Eastern Caribbean Central Bank and Central Bank of Barbados to launch their own government-backed digital currencies — DCash and mMoney respectively. (CBR)
Extract from CARICOM BUSINESS NEWSLETTER Vol 3 No 52
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