Saturday, 30 July 2022 03:41

BCR expands virtual financial services to facilitate interbank transfers

Written by Evelyn Alas

Today, the President of the Banco Central de Reserva (BCR), Douglas Rodriguez, together with the Secretary of Trade and Investment, Miguel Kattan, presided over the launching of Transfer365 Mobile and Transfer 365 Business, both of which are online payment systems.

Rodríguez explained that the two platforms have state-of-the-art technology and comply with the highest international standards to guarantee individuals and companies an agile, secure and quality service. Salvadorans will be able to find it (Transfer365 Móvil) within the electronic channels of the financial institution of their choice", he said.

The services presented are an extension of the Transfer365 project, through the BCR in 2021, which has had an impact on the population's economy. Salvadorans have saved US$11.8 million in interbank commissions and US$5.4 million in interest on late payments.

Companies will have the Transfer365 Business platform at their disposal, aimed at executing high-value payments that stimulate economic activity. "This system is designed to give agility to those operations of high value (US$120,000), no longer will it be necessary to wait for the check to be signed, the remittance to be made, a clearing day as it had been done", said Rodriguez.

After one year of Transfer365, two new products from the same platform are being introduced, and that is doing things right", said Kattan.

The Central Government's management is committed to the vanguard and modernization of its institutions and services. This is in order to guarantee more and better options for the population to carry out their procedures.