# El Salvador — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/SV
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **Chivo Wallet** national Bitcoin/USD wallet
- **QR code** based transactions
- **Lightning Network** ATM upgrade (Q4 2024)
- **First country** Bitcoin legal tender (2021)
- **Closure planned** December 2024

## Banking landscape

### Central Bank
- **Name:** Banco Central de Reserva (BCR)
- **Website:** https://www.bcr.gob.sv/
- **Role:** Monetary policy, payment oversight

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Banco Agricola | Private | Agricola App |
| 2 | Banco Cuscatlan | Private | Cuscatlan Mobile |
| 3 | BAC Credomatic | Regional | BAC App |
| 4 | Banco Davivienda | Regional | Davivienda App |
| 5 | Banco Hipotecario | Private | BH Mobile |

### Market Structure
- **Chivo Wallet:** Government-backed
- **Dual currency:** USD + Bitcoin
- **First globally:** Bitcoin legal tender
- **Traditional banking:** USD dominant

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| Chivo Wallet | Government | BTC/USD | Closing 2024 |
| Bank transfers | Banks | USD | Active |
| ACH El Salvador | Banks | Clearing | Active |
| Lightning | Chivo ATMs | Bitcoin | Q4 2024 |

### Chivo Wallet (2021-2024)
- Launched September 7, 2021
- Government-backed wallet
- Bitcoin and USD support
- $30 BTC bonus per user
- AlphaPoint technology

### Lightning Network ATMs
- 100+ Chivo ATMs
- Q4 2024 installation
- Faster Bitcoin transactions
- Lower fees
- Cash-in/cash-out capability

---

## QR code standards

### Chivo QR

| Attribute | Value |
|-----------|-------|
| **Provider** | Government |
| **Feature** | BTC/USD transactions |
| **Technology** | Lightning Network |
| **Status** | Closing late 2024 |

### QR Payment Features
- Scan QR to send/receive Bitcoin
- USD conversion option
- Seamless transactions
- No commission fees
- Lightning addresses

### QR Payment Flow
- Scan merchant/user QR
- Enter amount in BTC or USD
- Receiver chooses currency
- Instant confirmation
- Lightning Network speed

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| Chivo Wallet | Government | Yes | BTC/USD |
| Bank Apps | Various | Limited | USD |
| Third-party | Crypto | Limited | Bitcoin |

### Chivo Wallet Features
- Bitcoin transactions
- USD transactions
- QR code payments
- Lightning Network
- Free transfers
- $30 BTC bonus

### Usage Statistics
- Less than 2% using for remittances
- 5.1 million user data exposed (hack)
- $276 million minted
- Limited merchant adoption

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [Chivo QR](https://docs.barcoder.ai/docs/payments/SV/chivo-qr) | BTC/USD QR | Lightning | Closing | [`chivo-qr`](https://docs.barcoder.ai/docs/standards/chivo-qr) |
| [Lightning](https://docs.barcoder.ai/docs/payments/SV/lightning) | Bitcoin L2 | QR + address | Q4 2024 | — |
| [Bank apps](https://docs.barcoder.ai/docs/payments/SV/bank-apps) | USD | Traditional | Active | — |

## Sources

- [Google Play - Chivo Wallet](https://play.google.com/store/apps/details?id=com.chivo.wallet)
- [AlphaPoint - Chivo Case Study](https://alphapoint.com/resource/chivo-bitcoin-wallet-enables-unprecedented-financial-inclusion-for-el-salvador/)
- [Fortune - Chivo Closure](https://fortune.com/crypto/2024/12/20/el-salvador-sell-shutter-chivo-crypto-wallet-bitcoin-president-nayib-bukele/)
- [Bitcoin Magazine - Chivo Launch](https://bitcoinmagazine.com/culture/el-salvador-national-bitcoin-wallet)
- [CryptoNews - Chivo Hack](https://cryptonews.com/news/el-salvador-hack-bitcoin-wallet/)
- [Inverse - Bitcoin El Salvador](https://www.inverse.com/innovation/bitcoin-el-salvador-protests-chivo-app)

## Full country report

[SV-el-salvador.md](https://docs.barcoder.ai/docs/payments/SV)