Mobile wallet in Cuba exceeds expectations due to its popular reception

HAVANA, Cuba, August 8 (ACN) Executives and specialists of the Cuban Telecommunications Company (ETECSA) value the MiTransfer mobile wallet as an ideal alternative for entering and enjoying e-commerce without the need for bank cards.

It is currently very popular among population. It was launched on February 28, 2023, under the brand name Bolsa MiTransfer, as an electronic channel within the Transfermovil app.

Its acceptance has gradually multiplied, primarily due to its efficiency, as the mobile phone itself becomes a wallet. Proof of this is the fact that it has more than 790,000 users, and its main strength is that it connects unbanked people to banking services, Hector Luis Mora Hechavarria, director of Digital Services at ETECSA, told the Cuban News Agency.

While it was initially conceived to pay for services within the closed environment of our company, and its target audience was unbanked people, including teenagers and young adults, domestic workers, farm workers, and banked adults who were not yet using payment gateways, today its goals and results exceed expectations.

According to the specialist, following numerous updates to the Transfermovil app, the mobile wallet has been incorporating features that are not only useful for these customers, but also for many others who use certain services managed through MiTransfer.

Such is the case with the Classic Card, whose acquisition is currently in high demand among the population, and the services of the Facilitation Office (OFA) of Heritage Cities, namely booking and payment for routes and tours of historical sites, Mora Hechavarria pointed out.

According to the interviewee, no bank account or matrix card is required to use it; with just the person's phone number, they can transfer money to another wallet user, and even to pay in stores, just scan the QR code.