# BIMO

> Source: https://docs.barcoder.ai/docs/standards/bimo
> research date 2026-05-29 · extracted at 2026-10-06
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [BIMO — official](https://www.bimo.ec/)
- [BIMO — Banco Bolivariano](https://www.bolivariano.com/servicios/bimo)

## Overview

**BIMO — Mi Billetera Móvil** ("My Mobile Wallet" in Spanish) is **Ecuador's interbank mobile-payment platform**, operated by **BANRED** (Ecuador's interbank network) <sup>[1][1], [3][3], [Ecuador report](https://docs.barcoder.ai/docs/payments/EC)</sup>. BIMO **launched 3 October 2019** as Ecuador's national interbank mobile-payment service, structurally **replacing the discontinued Dinero Electrónico** — Ecuador's earlier central-bank-issued e-money product that operated 2014-2018 <sup>[6][6]</sup>. BIMO connects **28 Ecuadorian financial institutions** (banks, cooperatives, mutualistas) into a single interbank-mobile-payment ecosystem.

The structural distinction: **BANRED-operated rather than central-bank-issued** — Ecuador shifted from central-bank-direct-e-money (Dinero Electrónico) to bank-network-coordinated mobile wallet (BIMO). By **December 2019** (3 months post-launch), BIMO had **75,000 active accounts**; by **May 2020, 89,000 accounts** (96 % associated with existing savings/checking accounts; only 4 % new BIMO-only accounts) <sup>[3][3], [5][5]</sup>. The platform supports **QR-code payments + recipient-contact-list selection** for transferring funds. BIMO competes with **DeUna** (Banco del Pacífico's digital wallet, now closed) and various bank-specific apps in Ecuador's payment ecosystem.

## History

**Background — Ecuadorian payment landscape pre-BIMO** <sup>[Ecuador report](https://docs.barcoder.ai/docs/payments/EC)</sup>:
- **Banco Central del Ecuador (BCE)** — central bank.
- **Dinero Electrónico** (2014-2018) — central-bank-issued e-money; discontinued due to political controversy + low adoption.
- **BANRED** — interbank network.

**Dinero Electrónico rise + fall (2014-2018)** <sup>[6][6]</sup>:
- BCE-issued e-money launched 2014.
- Political controversy + slow adoption.
- Discontinued 2018.
- Important policy precedent for subsequent BIMO bank-network model.

**3 October 2019 — BIMO launches** <sup>[3][3]</sup>:
- BANRED-operated.
- Interbank model (not central-bank-direct).
- 28 financial institutions connected.

**December 2019 — 75,000 users** <sup>[3][3]</sup>.

**May 2020 — 89,000 accounts** <sup>[5][5]</sup>:
- 96 % existing-banked customers; 4 % new BIMO-only.

**Continued growth** <sup>[Ecuador report](https://docs.barcoder.ai/docs/payments/EC)</sup>:
- BIMO + SPI (Sistema de Pagos Interbancarios) as Ecuador's payment-system fabric.

## Technical specification

BIMO is **BANRED-operated interbank mobile-payment platform** <sup>[1][1], [3][3]</sup>:

| Layer | Description |
|---|---|
| **Operator** | **BANRED** (Ecuador interbank network) |
| **Regulator** | **Banco Central del Ecuador (BCE)** |
| **Launch** | **3 October 2019** |
| **Currency** | USD (Ecuador dollarised since 2000) |
| **Identifier** | Mobile contact + QR code |
| **Connected FIs** | **28** (banks, cooperatives, mutualistas) |
| **Predecessor** | Dinero Electrónico (BCE 2014-2018, discontinued) |
| **Users (Dec 2019)** | 75K |
| **Users (May 2020)** | 89K |

**QR-code support** <sup>[1][1]</sup>:
- Receive money via QR.
- Pay merchants via QR scan.

**Account-type structure** <sup>[5][5]</sup>:
- 96 % linked to existing savings/checking accounts.
- 4 % BIMO-only basic accounts (financial-inclusion entry).

**USD-dollarised**:
- Ecuador uses USD as official currency since 2000.
- BIMO transactions in USD.

## Use cases

**P2P transfers (interbank)** <sup>[1][1]</sup>: Between BIMO users at any of 28 FIs.

**Merchant payments via QR** <sup>[1][1]</sup>: Scan-to-pay.

**Cross-bank without account-number friction** <sup>[3][3]</sup>: Mobile-contact-addressed.

**Basic-account financial inclusion** <sup>[5][5]</sup>: BIMO-only account for unbanked.

**Bill payment** <sup>[1][1]</sup>: Utilities + services.

## Implementations & ecosystem

**Operator**: **BANRED** (Ecuador interbank network).

**Regulator**: **Banco Central del Ecuador (BCE)**.

**28 connected FIs** including:
- **Banco Pichincha** (largest).
- **Banco del Pacífico**.
- **Produbanco**.
- **Banco Bolivariano**.
- **Banco del Austro**.
- **Banco Guayaquil**.
- Cooperativas + mutualistas.

**Companion**: **SPI** (Sistema de Pagos Interbancarios) — BCE-coordinated interbank rail.

## Fun facts

- **Replaces Dinero Electrónico**: Ecuador shifted from central-bank-direct CBDC (Dinero Electrónico 2014-2018) to bank-network-coordinated BIMO. Notable policy pivot.
- **Dinero Electrónico discontinuation lesson**: One of the earliest documented retail-CBDC discontinuations — predating [DCash](https://docs.barcoder.ai/docs/standards/dcash) ECCB (Jan 2024).
- **96 % existing-banked customers (May 2020)**: BIMO mostly serves already-banked population — limited financial-inclusion penetration vs original ambition.
- **USD-dollarised economy**: Ecuador's payment-system context unusual — operates entirely in USD since 2000 dollarisation.
- **BANRED-operated**: Interbank-network operator pattern similar to Belarus's BORICA, Bulgaria's BORICA AD, Slovenia's Bankart.
- **28 FIs**: Comprehensive Ecuadorian banking ecosystem coverage.
- **"Billetera Móvil" = "Mobile Wallet"**: Spanish direct branding.
- **Banco Pichincha as largest issuer**: Ecuador's biggest bank.

## Comparison

| Feature | BIMO (EC) | Dinero Electrónico (EC, predecessor) | [MACH](https://docs.barcoder.ai/docs/standards/mach) (CL) | [Daviplata](https://docs.barcoder.ai/docs/standards/daviplata) (CO) | [Nequi](https://docs.barcoder.ai/docs/standards/nequi) (CO) |
|---|---|---|---|---|---|
| Operator | **BANRED (interbank network)** | BCE (central bank direct) | Banco Bci (commercial bank) | Davivienda (commercial bank) | Bancolombia (commercial bank) |
| Launch | 3 Oct 2019 | 2014 | 2017 | 2011 | Apr 2016 |
| Status | Active | **Discontinued 2018** | Active (MACHBANK 2026) | Active | Active |
| Currency | USD (dollarised) | USD (BCE-issued) | CLP | COP | COP |
| Users (recent) | 89K+ (May 2020) | n/a | 4.2M | 18.5M | 24M+ |

## Status

**Active, growing** <sup>[1][1], [3][3], [Ecuador report](https://docs.barcoder.ai/docs/payments/EC)</sup>:
- **BANRED operator** since 3 October 2019.
- **28 connected FIs**.
- **89K+ accounts** (May 2020 baseline).
- **USD-denominated** in dollarised Ecuador.
- **Replaces discontinued Dinero Electrónico**.

## Sources

[1]: https://www.bimo.ec/ "BIMO — official"
[2]: https://www.bolivariano.com/servicios/bimo "BIMO — Banco Bolivariano"
[3]: https://gk.city/2019/09/08/que-es-bimo-ecuador/ "BIMO — GK City"
[5]: https://www.primicias.ec/noticias/economia/billetera-movil-75000-usuarios-ecuador/ "BIMO 75K users — Primicias"
[6]: https://www.sciencedirect.com/science/article/pii/S2666143821000107 "Dinero Electrónico — ScienceDirect"

- [1] [BIMO — official][1]
- [2] [BIMO — Banco Bolivariano][2]
- [3] [BIMO — GK City][3]
- [5] [BIMO 75K users — Primicias][5]
- [6] [Dinero Electrónico history — ScienceDirect][6]
- <sup>[Ecuador report](https://docs.barcoder.ai/docs/payments/EC)</sup> `reports/countries/EC-ecuador.md`

## Deployments

Found in the following country reports (grep across `reports/countries/`):

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