Making payments without having the Internet or the cell phone turned off? Viettel already has a similar money digitization program in its country, known as “Mobile Money”, an offline payment solution launched together with its local competitors VNPT and Mobifone for the period 2021-2025.
The first pilot for the operation of Peru’s sovereign digital money, acronym in the term “CBDC”, will be carried out by the telecommunications company Viettel Perú, whose commercial name in our country is Bitel, announced the Central Reserve Bank of Peru (BCRP).
Following the schedule announced last April, the highest issuing body published General Management Resolution No. 0009-2024-BCRP, which begins the CBDC pilot run by the Bitel company for the next 12 months.
“As a result of the evaluation by the Selection Committee, it has been unanimously determined that Viettel Perú SAC is eligible to become a Digital Money Pilot Participant within the framework of the provisions of Circular No. 0011-2024-BCRP,” the document states.
According to the BCRP, the Vietnamese-owned company’s application “is in line with the specific objectives” of the CBDC pilot, as well as its design and related features.
Viettel is running a similar money digitisation programme in its home country, known as “Mobile Money”, an offline payment solution launched alongside local competitors VNPT and Mobifone for the 2021-2025 period.
Other characteristics that the BCRP assessed for the designation of Bitel were the “feasibility of the plan, schedule, objectives and functionalities”
“indicated” in its proposal.
The idea is to make it possible to pay even with a cell phone without Internet access or battery, by means of a personalized recharge of each chip in the mobile devices. With the BCRP’s sovereign Digital Money, already used in Jamaica, the Bahamas and Nigeria, the aim is to democratize payments outside the banking system.
Source: Larepublica
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