# Ecuador — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/EC
> extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **BIMO** interbank mobile wallet QR
- **SPI** 9.7M to 100M txns (2019-2023)
- **Dollarized** economy (USD)
- **BCE** central bank oversight
- **Deuna** alternative wallet

## Banking landscape

### Central Bank
- **Name:** Banco Central del Ecuador (BCE)
- **Website:** https://www.bce.fin.ec/
- **Role:** Payment systems (no monetary policy due to dollarization)

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Banco Pichincha | Private | Pichincha App |
| 2 | Banco Guayaquil | Private | BG App |
| 3 | Produbanco | Private | Produbanco Móvil |
| 4 | Banco del Pacífico | State | BP Mobile |
| 5 | Banco Internacional | Private | Int Mobile |

### Market Structure
- **BIMO:** Leading retail wallet
- **Deuna:** Alternative platform
- **USD:** Dollarized since 2000
- **Growing fintech:** Sector expansion

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| SPI | BCE | Interbank real-time | 100M txns |
| BIMO | Banks | Mobile wallet QR | Active |
| Deuna | Private | Digital wallet | Active |
| Card networks | Visa/MC | Cards | Active |

### SPI Growth
- 9.7M transactions (2019)
- 100M transactions (2023)
- 10x growth in 4 years
- BCE managed

### Central Bank Actions
- Eliminated $0.22 transfer fee
- Promotes digital products
- Reduces cash usage
- Financial inclusion focus

---

## QR code standards

### BIMO QR

| Attribute | Value |
|-----------|-------|
| **Provider** | Multiple banks |
| **Feature** | Contact list + QR |
| **Users** | Young generation |
| **Type** | Interbank wallet |

### BIMO Features
- Enter amount to transfer
- Choose from contact list
- QR code payment option
- Multi-bank support
- Popular with youth

### Deuna QR

| Attribute | Value |
|-----------|-------|
| **Provider** | Deuna |
| **Feature** | P2P + POS |
| **Market** | Growing |
| **Type** | Fintech wallet |

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| BIMO | Banks | Yes | Interbank |
| Deuna | Fintech | Yes | Full wallet |
| Bank Apps | Various | Limited | Banking |

### BIMO Dominance
- Most popular retail wallet
- Leading banks support
- QR payments enabled
- Young user base

### SPI Development
- 2024 improvement plans
- Real-time payment goal
- System integration
- Simplified experience

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [BIMO QR](https://docs.barcoder.ai/docs/payments/EC/bimo-qr) | Interbank | Wallet | Active | [`bimo`](https://docs.barcoder.ai/docs/standards/bimo) |
| [SPI](https://docs.barcoder.ai/docs/payments/EC/spi) | Real-time | BCE | 100M txns | [`spi`](https://docs.barcoder.ai/docs/standards/spi) |
| [Deuna](https://docs.barcoder.ai/docs/payments/EC/deuna) | Fintech | Wallet | Growing | — |

## Sources

- [Transfi - Ecuador Payments](https://www.transfi.com/blog/ecuadors-payment-rails-how-they-work---sistema-de-pagos-interbancarios-mobile-wallets)
- [Ecuador Times - BIMO](https://www.ecuadortimes.net/bimo-will-replace-electronic-money/)
- [NORBr - Ecuador Methods](https://web.archive.org/web/20250320054451/https://norbr.com/library/payworldtour/payment-methods-in-ecuador/)
- [APEXX - Ecuador Gateway](https://apexx.global/country-report/ecuador/)

## Full country report

[EC-ecuador.md](https://docs.barcoder.ai/docs/payments/EC)